📝 One-liners · 65 cards
Forex Arithmetic
What is the meaning of 'exchange rate' in forex transactions?
The exchange rate is the price at which one currency can be exchanged for another currency, expressed as units of one currency per unit of another.
What is the 'pip' in forex trading?
Smallest price movement in a currency pair, usually 0.0001
What is a 'direct quote' in foreign exchange?
A direct quote expresses the number of units of domestic currency required to buy one unit of foreign currency (e.g., INR 83.50 per USD 1).
What is meant by 'cable' in forex market terminology?
Cable refers to the GBP/USD currency pair
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