Currency pairs represent the comparison of two different currencies in foreign exchange(Forex)market.
Here's how a currency pair is typically represented:
Using EUR/USD as an example , if the exchange rate is 1.1200, it means 1 Euro can be exchanged for 1.12 U.S. Dollars.
Base Currency: his is the first currency in the pair and represents the unit of exchange. For example, in the pair EUR/USD, the Euro(EUR) is the base currency.
Quote Currency: This is the second currency in the pair and shows the value relative to the base currency. In EUR/USD, the U.S. Dollar(USD) is the quote currency.
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