The mid-point between the bid and ask prices of a currency pair at a specific point in time.
It reflects the theoretical fair value between buyers and sellers in the market, but it is not an executable rate. Many currencies have wide bid-ask spreads, meaning the actual transaction will occur at either the bid or ask price, depending on whether a buyer or seller is crossing the spread. The mid-market rate is often used as a benchmark for comparison but does not include any markups or fees.
