How to read an FX quote?

When you see a Forex quote it will always be quoted as a pair. A pair is a pairing of two currencies, one vs. the other in relative economic value at a specific moment in time. The quote is like saying:

 

If One British Pound is currently worth almost Two U.S. dollars.


Then the quote would be similar to: GBP/USD = 2.0114

Related Questions :