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A currency pair refers to the quotation of two different currencies against each other. A currency pair tells how much of the quote currency is required to buy a single unit of the base currency. The two currencies involved are:
In a currency pair, the value of one currency is quoted against the other. The base or first currency against the quote or second currency. There are two ways to identify a currency:
For example, for the US currency, the code would be USD. For the Great Britain Pound, the code would be GBP.
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