Currency Rate is the ratio of one currency valued against another value of a currency of one country. It whether depends on the demand and supply on free market or restricted by a government or by central bank.
Rate at which one currency may be converted into another. The exchange rate is used when simply converting one currency to another (such as for the purposes of travel to another country), or for engaging in speculation or trading in the foreign exchange market. There are a wide variety of factors which influence the exchange rate, such as interest rates, inflation, and the state of politics and the economy in each country. Also called rate of exchange or foreign exchange rate or currency exchange rate.
In foreign currency trading, exchange rates can fluctuate fast. Understanding what makes the rates change can help your chances as a Forex trader.