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TeachMeFinance.com - explain Dollar exchange historic definition... Dollar exchange -- Bills of exchange (drafts) drawn in a foreign country and payable in America ; so called because payment is to be made in dollars. Exchange drawn in America for a certain number of dollars, although to be paid in a foreign country in the equivalent in foreign money, is also dollar exchange. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2007 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.