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Foreign Exchange Currency Pairs
A currency is quite a mean of exchange, facilitating the transfer of Merchandise and/or services. It is one form of funds, exactly where funds can be anything that serves as a medium of exchange, a store of value, and a standard of value. Currencies are the dominant medium of exchange. Coins and paper dollars are both forms of currency.
A currency pair depicts a quotation of two distinct currencies on the Forex market. The first currency inside the pair is the base currency or transaction currency. The second currency within the pair is labelled quote currency, payment currency or counter currency. Such a quotation shows how many units of the counter currency are needed to purchase one unit of the base currency.
For example the quotation EUR/USD 1.2700 means that one euro is exchanged f ...[ ]
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