Exchange Rate won his career debut as a 2-year-old in 1999 at Hollywood Park. At 3, he won the Risen Star Stakes at Fair Grounds while on the Kentucky Derby trail. This year, he finished third in two grade II events -- the Frank E. Kilroe Mile Handicap and Churchill Downs Handicap -- before his July 4 win in the Tom Fool.
Padua Stables' Exchange Rate, who won the grade II Tom Fool Handicap at Belmont Park in his last start, was injured in training and has been retired. Exchange Rate would have made his next start in the grade I Forego Handicap at Saratoga in early September.Nadia Sanan, spokesperson for Padua, said "no definite plans have been made on his future career as a stallion, however, we are seriously considering standing him at Padua in Florida." Exchange Rate, now 4, won or placed in six stakes and earned $479,803 in his career.Exchange Rate, by Danzig -- Sterling Pound, by Seeking The Gold, was purchased by Padua owner Satish Sanan for $1.4 million at the 1998 Keeneland July yearling sale. The colt was bred in Kentucky by Philip Freedman, and has been trained by D. Wayne Lukas.