A currency pair represents the exchange rate between two currencies. The first currency is the base currency, and the second is the quote currency. The price shows how much of the quote currency is needed to buy one unit of the base currency.
In EUR/USD = 1.1050, EUR is the base currency and USD is the quote currency. It means 1 Euro equals 1.1050 US Dollars.
The base currency is the first currency in a currency pair. It's the currency being bought or sold. ...
The quote currency is the second currency in a currency pair. It represents the value of the base cu...
Major currency pairs are the most traded pairs in the forex market, all involving the US Dollar. The...
Minor currency pairs (also called cross-currency pairs) are pairs that don't include the US Dollar. ...
