Currency & Pairs
Beginner
Quote Currency
Also called: counter currency, terms currency
The second currency in a pair — the one used to price the base.
Definition
The quote currency is the ‘denominator’ of the exchange rate. P&L on a trade is naturally in the quote currency before being converted to your account currency.
Example
GBP/JPY = 195.00 — JPY is the quote currency. A 100-pip move = 100 yen per unit of size.