Quote Currency

The second currency in a currency pair, for which a client is able to sell/buy a base currency. For instance, in the currency pair USD/JPY, Japanese yen is the quote currency. The quote currency is also called the counter currency, and gets its name because the exchange rate is usually stated as the price of the quote currency against one unit of the base currency. So in a rate quote that states that the USDJPY is 79.34, the figure ’79.34’ simply means that 79.34 Yen will be used to buy 1 US Dollar.

By |2018-09-04T14:53:25+00:00September 4th, 2018|0 Comments

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