The term "legal tender" is from Middle English tendren, French tendre (verb form), meaning to offer. The Latin root is tendere (to stretch out), and the sense of tender as an offer is related to the etymology of the English word "extend" (to hold outward).
Legal tender is a format to remove public or private debt and finance, recognised and affirmed by the law. It consists of currency, bank notes and coin, and every country has a form of currency yet some share the same type, for example a lot of European companies exercise use of the Euro, yet only Great Britain uses the Pound Sterling.
Exchange rates determine the amount of currency can be changed for use in another country, and this is not set in stone and can change over time due to inflation, an increase to the price of services or goods in an economy. For example for every £1, you get around €1.27 Euros.
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