Cryptocurrency Q&A
What currency is used in foreign exchange trading?
What currency is used in foreign exchange trading?
Valentino
Sun Jan 26 2025
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6
answers
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I'm interested in foreign exchange trading and want to know which currency is typically used in this type of trading. I'm curious about the most commonly traded currencies in the forex market.
6 answers
Lucia
Tue Jan 28 2025
The first currency listed in a pair is termed the base currency. This currency serves as the foundation for the trade.
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henry_grayson_lawyer
Tue Jan 28 2025
The second currency in the pair is known as the quote currency. Its value is expressed in relation to the base currency.
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HanjiHandiwork
Tue Jan 28 2025
For instance, in the USD/JPY pair, the United States Dollar functions as the base currency.
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JejuJoyfulHeart
Tue Jan 28 2025
In the realm of foreign exchange trading, currencies from various countries are traded in pairs.
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Luigia
Tue Jan 28 2025
Each currency pair comprises two currencies, with a distinct role assigned to each.
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