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TeachMeFinance.com - explain Long of exchange historic definition... Long of exchange -- When a dealer in (foreign) exchange has purchased and holds commercial or other bills exceeding in amount bills of his own which he has sold and which are outstanding he is long of exchange. For additional information see Foreign 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.