Currency Pair: Name & Symbols



Welcome to MXC Forex!Currency Pair: A currency pair is the quotation and pricing structure of the currencies traded in the forex market. The value of currency is …

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Currency Pair: Name & Symbols

Welcome to MXC Forex!Currency Pair: A currency pair is the quotation and pricing structure of the currencies traded in the forex market. The value of currency is a rate and is determined by its comparison to another currency. The first listed currency of a currency pair is called the base currency and the second currency is called the quoted currency. Besides that, you may noticed that the symbol (abbreviation) for all currencies have three letters. The first two letters denote the name of the country and third letter stands for the name of country’s currency. Let’s look an example USD. The US stand for United States and the D stand for Dollar. There have 3 categories of currency pairs which is major, minor and exotic. The major currency pairs (majors) are traded the most frequently and they all contain US dollar (USD). The Minor currency Pair (Crosses) does not contain the USD. The most active contain EUR, JPY, and GBP. Exotics currency pairs contain one major currency as the base currency, paired with non-major currency, such as South African rand, Mexican peso, or Danish krone. Exotic pairs are not so widely traded. The photo below is an example of exotic currency pair.