The second currency is the quote currency. Near the end of June, the EUR/USD exchange rate was around 1.09. This means that 1 unit of the base currency can buy 1.09 units of the quote currency.

where the first is called the base currency and the second is the quote currency. For example, in GBP/USD, GBP (British Pound) is the base currency, and USD (US Dollar) is the quote currency.

Currency pairs are essential for understanding exchange rate calculations. Direct and indirect quotes are two methods of expressing exchange rates. Changes in economic indicators and geopolitical ...

The naira depreciated again in the Nigerian Foreign Exchange Market on Wednesday, March 5, 2025, trading t N1,505 per dollar from N1,502 the previous day.