What are Forex pairs?

December 2, 2022

In the foreign exchange (Forex) market, a currency pair is a quotation of the relative value of one currency against another. Forex pairs are used to express the exchange rate between the two currencies, and they show how much of the quote currency (the second currency in the pair) is needed to buy one unit of the base currency (the first currency in the pair). For example, in the currency pair EUR/USD, EUR is the base currency and USD is the quote currency. If the exchange rate is 1.20, this means that one euro is worth 1.20 US dollars. There are many different Forex pairs, and they can be traded on the Forex market in order to profit from changing exchange rates.

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