Falling

exchange. If foreign exchange is quoted in the _ money of the country where i ued a falling rate for it signifies that the exchange situation is in favor of the country where the exchange is i ued and against the country where it is payable. In other words, the exchange is le costly—the ‘money of the country where the exchange is payable costs le in the money of the country where the exchange is i ued. For instance, exchange on London is quoted in New York in: dollars (and cents) and when the rate is falling the pound sterling is worth le in dollars (and cents). H If foreign exchange is quoted in the money of the country;: where it is payable a falling rate for it signifies that the ex-. i, i - nal - change situation is against the country where the exchange is: i ued and in favor of the country where it is payable. In other words, exchange is more costly—the money of the country - where the exchange is i ued brings le in the money of the country where the exchange is payable. For instance, exchange on Paris is quoted in New York in francs and when the ¥ rate is falling le in francs (and centimes) can be obtained for the dollar. The opposite of falling exchange is rising exchange; see Rising exchange. 194