Sorry, no online dictionaries contain the exact phrase par exchange rate.
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Reverse dictionary results:
1. parity
 2. peg
3. agio
4. change
5. currency
6. rates
7. changes
8. changing
9. exchanged
10. batta
 11. cambist
12. currencies
13. devaluate
14. drainage
15. valuta
16. managed currency
17. revaluation
18. sewage
19. rate of exchange
20. write-off
 21. disbursements
22. erm
23. fixed exchange rate
24. discount
25. premium
26. nominal
27. pace
28. water
29. equal
30. equals
 31. pae
32. subpar
33. share
34. hand
35. level
36. tandem
37. bet
38. equivalent
39. even
40. fellow

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You can look up the words in the phrase individually using these links:   par ?   exchange ?   rate ?
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