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What are the types of foreign currencies - doaausef3li - 08-12-2024
Foreign currency trading depends on the exchange of currency pairs, where a certain currency is exchanged for another currency. The currency pair consists of two parts, which are a base currency and a quote currency. The base currency is the first currency that the investor believes will rise or fall against the quote currency. For example, if the investor is trading on the Japanese yen/US dollar pair, this means that the expected price of the Japanese yen will change by falling or rising against the US dollar. Foreign currency pairs can be classified into three main types as follows:
كيفية الربح من تجارة العملات بالعراق
Major pairs: These are the most traded and popular currencies, so that they can be achieved and include the currencies of countries that are classified as the largest economies in the world and the most growing and stable, and include a number of famous forex pairs such as:
Japanese yen/US dollar pair (USD /JPY).
Euro/US dollar pair (EUR /USD).
British pound/US dollar pair (GBP /USD).
US Dollar/Swiss Franc (USD/CHF).
Australian Dollar/US Dollar (AUD/USD).
Minor pairs: Also known as cross currencies, they do not include the US dollar, but include a number of popular and widely traded currencies, such as the Japanese yen, the British pound, and the euro. In general, these currencies are less popular among investors in the Forex market, due to their less liquidity, and therefore their spreads are usually lower. The most famous of them are:
Euro/Japanese Yen (EUR/JPY).
Euro/British Dollar (EUR/AUD).
Australian Dollar/Canadian Dollar (AUD/CAD).
Exotic or exotic pairs: These include major currency pairs against currencies from developing economies, such as the Turkish currency, Brazil, and others. These pairs are not traded at the same rate as major or minor currency pairs, and therefore they always tend to have higher spreads.