Exchange Rate injured, retired

Exchange Rate, who recently scored the biggest victory of his career in the Grade 2 Tom Fool, has been retired after suffering an injury while training, according to Nadia Sanan of Satish Sanan's Padua Stables.

A 4-year-old son of Danzig out of the Seeking the Gold mare Sterling Pound, Exchange Rate was pointing for the Forego Handicap Sept. 1 at Saratoga. He retires with six wins in 15 starts and earnings of $479,803.

Satish Sanan purchased Exchange Rate for $1.4 million at the 1998 Keeneland July Sale and turned him over to trainer D. Wayne Lukas. He was precocious at 2, winning his first start with a Beyer Speed Figure of 91 and placing in stakes in his other two starts.

Exchange Rate won his first two starts at 3, including the Risen Star Stakes, but faltered as the distances stretched out. This year he was kept at distances up to a mile, on grass and dirt, and achieved moderate success before upsetting the Tom Fool at Belmont over top sprinters Peeping Tom and Say Florida Sandy.