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Meaning of “going rate” in the English Dictionary

"going rate" in Business English

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going ratenoun [C]

uk   us   FINANCE
the ​amount of ​money that something ​costs at the ​presenttime: the going rate for sth The going ​rate for a ​skilledarchitect in India is about $50,000 ​peryear.twice/three times, etc. the going rate Firms ​advertisingcheaplifeinsurance are actually ​charging many ​customers up to five ​times the going ​rate.
(Definition of going rate from the Cambridge Business English Dictionary © Cambridge University Press)
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