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  Dictionary Definition of par

par [1]
1. an equality in value or standing; a level of equality: the gains and the losses are on a par.
2. an average or normal amount, degree, quality, condition, or the like: above par, below par, on a par with.
3. Commerce. a. the legally established value of the monetary unit of one country in terms of that of another using the same metal as a standard of value ( mint par of exchange ). b. the state of the shares of any business, undertaking, loan, etc., when they may be purchased at the original price (called issue par ) or at their face value (called nominal par ). Such shares or bonds are said to be at par. Shares or bonds sold or acquired at a premium are said to be above par, and at a discount, below par.
4. Golf the number of strokes allowed to a hole or course as representing a target standard.
-- adjective
5. average or expected, normal: par for the course.
6. Commerce. at or relating to par: the par value of a bond.
7. Bridge (of a bid or play) best possible.
-- verb (t)
8. Golf to make a score of par on: if only I could par a few holes.
[L: equal]