What are currency quotes?

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2018-04-02 06:19:07

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Finance quote currency (also known as the exchange rate) is the value of one particular currency relative to another. For example, 91 Japanese yen can be exchanged for one U.S. dollar, and that means their quote is 91:1. This value is determined in the Forex market is open 24 hours, excluding weekends.

what is quotes

Thus, saying that such quotes, you can define them as the ratio of one currency to the other in their pair. In this monetary unit, which is used as the reference is called the quote currency and the second currency transaction.

Such money couples sometimes are written by concatenating the ISO codes (ISO 4217), separated by a slash. The most widely traded currency pair is the relation of the Euro to the US dollar, designated as EUR / USD. An example of what quotes, so you can imagine the ratio of EUR / USD. In this example Euro is the base currency USD is the counter.

quotes

Quotes are the standard abbreviations provided by International organization for standardization (known as ISO). Because of the ISO 4217 standard, the basic currency and the values are set as follows: - US dollar (USD), British pound (GBP), Euro (EUR), Australian dollar (AUD), Japanese yen (JPY), canadian dollar (CAD) and in the end the Swiss franc (CHF).

The Quotation is marked EUR/USD 1.2500 again, suggests that one Euro is exchanged for 1.2500 again USD. If there is a change, for example, to 1,2500 1,2510, the Euro will increase its relative importance. In turn, this means that the dollar weakened and Euro strengthened. On the other hand, if the ratio EUR / USD will change from up to 1,2500 1,2490 - when the Euro is relatively weaker than the dollar.

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dollar quotes

Speaking about what quotes, you should be aware of the rules set by the European Central Bank. According to its requirements, in the currency pair Euro is the priority. Thus, all the pairs with his participation should use it as their base, listed at the beginning. For example, the exchange rate of the us dollar is defined as EUR / USD.

However, in some regions of the monetary unit can be interchanged or not to have an accurate designation. In order to determine what is the base currency in this pair, the basis is a unit that has an exchange rate of greater than 1000. This avoids problems with rounding - exchange rates quoted to more than 4 decimal places. There are some exceptions to this rule, for example, Japan often quote their currency as the base to another. Speaking about what the quotes, it should be noted that the display of the currency value as the base used in most countries and is called direct quote. Displaying this relationship in reverse order is called an indirect quote and is common in Australia, New Zealand and some countries in the Eurozone. So, specifying 1,35991 USD = EUR 1.00 displays the value quotations of the dollar and the Euro.

When using direct quotes the increase in the rate of the base currency talks about its strengthening and enhancing the values quoted. In other words, the increase in the exchange rate denotes an increase in the value of a particular currency unit


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Alin Trodden - author of the article, editor
"Hi, I'm Alin Trodden. I write texts, read books, and look for impressions. And I'm not bad at telling you about it. I am always happy to participate in interesting projects."

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