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web3glossarycurrency pair
Currency pair

Summary

A currency pair is a quotation of two different currencies, where one currency is quoted against the other.

Detailed Description

In the context of foreign exchange (forex) trading, a currency pair represents the value of one currency relative to another. For example, in the currency pair EUR/USD, the euro (EUR) is the base currency, and the U.S. dollar (USD) is the quote currency. This means that the value of the euro is being expressed in terms of the U.S. dollar. Currency pairs are categorized into major pairs, minor pairs, and exotic pairs, depending on their trading volume and liquidity.

Category
Finance
Synonyms
Forex pair
Foreign exchange pair

Impact Details

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Forex Trading

Traders buy and sell currency pairs in various market conditions to speculate on their future value.

Industries:

Finance
Banking

Platforms:

MetaTrader 4
MetaTrader 5
cTrader
International Trade

Businesses engage in currency pairs to manage foreign exchange risks associated with international transactions.

Industries:

E-commerce
Import/Export

Platforms:

Currency Exchange Platforms
Banking Services
Foreign Exchange Hedging

Companies use currency pairs to hedge against fluctuations in exchange rates when dealing with international payments.

Industries:

Manufacturing
Travel and Hospitality

Platforms:

Hedging Software
Risk Management Tools

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