parity Hear it!

parity definition - finance
Equality. The term is used in the foreign exchange market to talk about two currenciesÂ’ parity with each other. For instance, as the exchange rate for the dollar and euro both approach 1, they are said to be at parity.

Webster's New World Finance and Investment Dictionary Copyright © 2003 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.

Comments
Improve this definition.
Do you have more to add? Share your linguistic knowledge or observation.
/Register to save your comments.