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Foreign Currency BankLast update: Tuesday 22nd of May 2012
There are five major currencies that are traded most often. They are the US Dollar (USD,) the Euro (EUR,) the Japanese Yen (JPY,) the British Pound (GBP,) and the Swiss Frank (CHF.) There are certain foundations that also consider the Australian Dollar (AUD) a major currency. At some point in the near future, at least we hope the Chinese government will remove the restrictions presently placed on the trading of there national currency and allow it also to be freely traded. As we mentioned earlier currencies are always traded in pairs. The initial currency in the pair is called the base currency and the next currency is named quote or counter currency. The base currency is always one. Thus the exchange rate is how many of the counter currency must be paid in the counter or quote currency when buying one unit of the base currency, is always lower than the ask price, which represents how much must be paid to buy the base currency. 9) Government Growth: The information presented here is designed for the Forex/currency trader. This information is also useful to
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