Cost of living abroad: meaning and definition

The definition at a glance

An estimate of the amount needed to maintain a given standard of living in another country or city.

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The currency chosen as a reference for showing amounts, balances and wealth in a financial record.

A medium of exchange used to express prices, make payments and store value within an economy.

Calculation of the equivalent value of an amount in another currency using an exchange rate. A conversion for reference does not move money.