The variability of a firm's value that results from unexpected exchange rate changes, or the extent to which the present value of a firm is expected to change as a result of a given currency's appreciation or depreciation. Bloomberg Financial Dictionary
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exchange risk UK US noun [U] (also foreign exchange risk)
► FINANCE the risk of losing money on an investment or sale because of changes in exchange rates: »
An argument in favour of joining the euro is that it would minimize exchange risk.
Financial and business terms. 2012.