Reading FOREX Quotes- Basics and Currency Pairs

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FOREX quotes are expressed in pairs of two currencies in the following form.

forex quotes

 

 

 

Base Currency/Quote CurrencyPrice

-The Base currency is written on the left while the Quote currency on the right

-The price represents how much of the quote currency you can buy with 1 unit of the base currency

               Or similarly

– How much of the quote currency is required to sell in order to buy one 1 unit of the base currency

Example

In the image above

EUR is the Base

USD is the Quote

1 EUR buys 1.3024 USD

1.3024 USD can Buy 1 EUR

Abbreviations: Bellow you can see the most commonly used currencies with their abbreviations

forex quotes

Currency Pairs: As previously mentioned Forex rates are expressed in pairs of 2 currencies. Bellow as the most commonly traded currency pairs , known as  the Majors.

forex quotes

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