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Currency Pair

Fundamentals

The quotation of one currency against another — the base unit every forex trade is built from.

A currency pair is the quotation of one currency against another, showing how much of the quote currency is needed to buy one unit of the base currency — for example, EUR/USD 1.0850 means one euro buys 1.0850 US dollars. Every forex trade is simultaneously a purchase of one currency and a sale of the other. Pairs are grouped into majors (paired with USD), minors/crosses (no USD leg), and exotics (one emerging-market currency), which broadly determines their liquidity and typical spread.

Related terms

Base Currency & Quote CurrencyBid/AskMajor, Minor & Exotic Pairs

More in Fundamentals

Account BalanceADP National Employment ReportAnnualised RateBalance of PaymentsBase Currency & Quote CurrencyBase EffectBeige BookBenchmark RevisionBid/AskCable (GBP/USD)Capital ControlsCarry Trade

After Currency Pair

CalculatorPip Value CalculatorWork out the dollar value of one pip for any lot size and pair — the base unit for sizing every forex trade.GuideHow to Check the Way a Currency Is ManagedThe regime behind a currency is published, not inferred. The four primary sources that say how a rate is governed, what each one can and cannot tell you, and how to keep the answer from going stale.
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