An exotic currency is one that is thinly traded and as such, has smaller liquidity and wider spreads. Examples are the Brazilian Real (BRL), Turkish Lira (TRY), and Mexican Peso (MXN). On the FX trading platforms, the pairings of these currencies usually have very wide spreads. E.g. the USD/MXN has spreads over to 50 pips on some platforms. As a consequence, they also have wide intraday ranges. Examples of exotic currency pairings include USD/BRL, USD/TRY, and USD/ZAR etc.