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Also known as the midmarket rate, the spot rate or the real exchange rate, the interbank rate is the exchange rate used by banks and large institutions when trading large volumes of foreign currency
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Download historical exchange rates refers to the process of obtaining past currency exchange rates from a database or online service, which can be used for financial analysis, reporting, and research.
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Generally, businesses and individuals who engage in international transactions or need to report financial information that involves different currencies may be required to file historical exchange rates.
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The purpose of downloading historical exchange rates is to provide a record of currency values over time, aiding in financial reporting, tax calculations, investment analysis, and understanding market trends.
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The report typically must include the dates, currency pairs, exchange rates for each date, and any additional relevant information such as source of rates or adjustment notes.
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