In forex, “rate” usually refers to the exchange rate between two currencies, which represents the value of one currency in terms of another currency. For example, the exchange rate for the EUR/USD currency pair might be 1.2000, which means that one euro is worth 1.2000 U.S. dollars. The exchange rate can be influenced by a variety of economic, political, and social factors, as well as supply and demand in the market. Traders in the forex market may buy or sell currencies based on their expectations for changes in exchange rates.