: In a pair like EUR/USD , the first currency (Euro) is the base , and the second (US Dollar) is the quote .
In the foreign exchange (forex) market, currencies are always traded in pairs. currency rates
: These pair a major currency with one from an emerging market, like the USD/INR (Indian Rupee) or USD/TRY (Turkish Lira). 2. Primary Drivers of Currency Fluctuations : In a pair like EUR/USD , the
: If the EUR/USD rate is 1.20, it means you need 1.20 US Dollars to buy 1 Euro. : In a pair like EUR/USD
: These involve the world's most liquid currencies, such as the US Dollar (USD), Euro (EUR), and Japanese Yen (JPY).