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TeachMeFinance.com - explain Foreign Exchange Foreign Exchange -- Currency of countries exchangeable for other currencies according to their relative values based on supply and demand. historic definition... Foreign exchange -- The payment of an obligation in a place in one country by the transfer of a credit from a place in another country by means of a bill of exchange (a draft or order for money), as a bill drawn in New York and payable in London. 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 © 2005 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.