ARBITRATION OF EXCHANGE - Black's Law Dictionary

What is ARBITRATION OF EXCHANGE? Definition of ARBITRATION OF EXCHANGE in Black's Law Dictionary

This takes place where a merchant pays his debts in one country by a bill of exchange upon another.

The business of buying and selling exchange (bills of exchange) between two or more countries or markets, and particularly where the profits of such business are to be derived from a calculation of the relative value of exchangein the two countries or markets, and by taking  advantage of the fact that the rate of exchange may be higher in the one place than in the other at the same time.

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