Tag archive for ‘currency rate’
Forex Glossary, Special Code Abbreviations
In banking practice there are special code abbreviations: for example, the exchange rate for dollar against yen refers to USD/JPY, British pound against US Dollar to GBP/USD. The first currency is referred to as the base currency and the second as quote currency: USD / JPY = 120.25 Base currency Quote currency Rate This abbreviation [...]
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