The rate today for exchanging one currency for another for immediate delivery.
The spot rate is the exchange rate existing in the market at any given moment in time. It is the rate you would be able to buy foreign currency at 'now'. This is in contrast to the forward rate which is a predicted rate for a time in the future.
Exchange rate for immediate delivery.
The spot exchange rate is the amount one currency will trade for another today. In other words, it?s the price a person would have to pay in one currency to buy another currency today. You could also think of it as today?s rate that one currency can be traded with another.