Reexchange - definition of Reexchange by The Free Dictionary
|v. t.||1.||To exchange anew; to reverse (a previous exchange).|
|n.||1.||A renewed exchange; a reversal of an exchange.|
|2.||(Com.) The expense chargeable on a bill of exchange or draft which has been dishonored in a foreign country, and returned to the country in which it was made or indorsed, and then taken up.|
The rate of reëxchange
is regulated with respect to the drawer, at the course of exchange between the place where the bill of exchange was payable, and the place where it was drawn. Reëxchange
can not be cumulated.
References in periodicals archive
5) Neither does he attempt to describe dry and fictitious exchange, which involved exchange and reexchange between two banking places either at current market rates or at rates set in advance by the contracting parties.
According to ten cases of exchange and reexchange recorded among the papers of the Medici Bank, the range of earnings extended all the way from below zero to 26.
At the same time, the Fed agrees via a forward transaction to reexchange
the same amount of marks for the Bundesbank's dollars at a given date in the future.