used to talk about buying and selling foreign money
foreign exchange markets/rates/transactions etc
The dollar is expected to fall in the foreign exchange markets.
foreign money, especially money obtained by selling goods to a foreign country:
foreign exchange earned through exports
3 also exchange [countable]
an arrangement through which a student exchanges homes, schools etc with a student from another country for a particular length of time, especially in order to learn a language:
The school organizes a foreign exchange to France.