WHAT IS A FOREX PAIR? In foreign exchange, currencies trade | INVESTER MINER🇺🇸📊

WHAT IS A FOREX PAIR?

In foreign exchange, currencies trade against each other as exchange rate pairs. For example, EUR/USD is a currency pair for trading the Euro against the U.S. Dollar.
A FOREX pair or currency pair is simply the quotation of the value of a given currency against another. The first is termed the base currency and is the currency being sold, while the second is known as the quote currency and is the currency being bought.
For example, the quotation EUR/USD = 1.0700 would mean 1 Euro is exchanged for $US1.07.