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What is a Currency Pair?

Learn more about important trading and financial terms here. Need more help? Our team is ready.

A currency pair shows the exchange rate between two currencies. It shows how much of one currency is needed to buy one unit of another currency. Note that a currency pair has two parts:

  • Base currency: The first currency in the pair.
  • Quote currency: The second currency in the pair.

For example, in a “EUR/USD” pair, EUR is the base currency, and USD is the quote currency. 

There are different types of currency pairs in forex, divided into three primary categories:

  • “Major pairs” (EUR/USD, GBP/USD)
  • Minor pairs (EUR/GBP, AUD/JPY), and 
  • Exotic pairs (USD/INR, EUR/TRY).

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