Currency Archives - The Forex Trends https://theforextrends.in/tag/currency/ Revealing The World Of Forex: Expert Analisys And Secrets Of Successful Trading Fri, 21 Jul 2023 13:24:56 +0000 en-US hourly 1 https://wordpress.org/?v=6.7 https://theforextrends.in/wp-content/uploads/2023/07/T-150x150.png Currency Archives - The Forex Trends https://theforextrends.in/tag/currency/ 32 32 Currency pairs https://theforextrends.in/currency-pairs/ https://theforextrends.in/currency-pairs/#respond Sun, 02 Jul 2023 16:30:49 +0000 https://theforextrends.in/?p=771 A currency pair is a quotation of the relative value of one currency unit against another currency unit in the foreign exchange market (Forex). It represents the exchange rate between two currencies and is used to facilitate currency trading. Currencies are always traded in pairs when we trade in Forex.  The first currency of the…

The post Currency pairs appeared first on The Forex Trends.

]]> A currency pair is a quotation of the relative value of one currency unit against another currency unit in the foreign exchange market (Forex). It represents the exchange rate between two currencies and is used to facilitate currency trading. Currencies are always traded in pairs when we trade in Forex.  The first currency of the pair is known as the base currency. While the second currency is known as the quote currency.

For Example: In the GBP/USD currency pair the GBP (Great Britain Pound) is the base currency and USD(US Dollar) is the Quote Currency

GBP/USD currency pair

The exchange rate indicates how much of the quoted currency is required to buy one unit of the base currency.  They provide opportunities for buying or selling one currency in exchange for another with the expectation of profiting from changes in their relative values.

For Example, If the exchange rate of GBP/USD is 1.2736, it means that 1 pound (GBP) can be exchanged for 1.2736 US dollars (USD).

exchange rate of GBP/USD

The post Currency pairs appeared first on The Forex Trends.

]]> https://theforextrends.in/currency-pairs/feed/ 0