The quotation money would be your next money recorded in a forex group. It’s also referred to because the counter money.
The purchase price of a forex pair reveals how far it costs to get 1 component of this bottom money by selling the quotation money.
In a set recorded as GBP/USD, USD is the quotation currency. Back in EUR/CHF, CHF is the quotation currency. The first money listed is known as the base money; GBP and EUR are the various base monies to the above mentioned examples.
Quote currency example
If GBP/USD are currently at 1.5000, for example, then a British pound is equal in price to $1.5000. In the event the base money (the pound) rises in value or even the quotation currency (dollar) drops, then the number of dollars necessary to get 1 pound increases. In the event the bottom falls in the quotation rises, the opposite effect may occur.
Visit our forex education department
Read the forex guide for all this language related to forex currency trading.