Base/Quote Currency
An FX pair states units of quote currency per unit of base currency under the market's quotation convention.
Market use
Direction matters for interpreting appreciation and depreciation.
What it means
An FX pair states units of quote currency per unit of base currency under the market's quotation convention.
Example
EUR/USD 1.10 means 1 euro costs 1.10 US dollars.
How to interpret it
This concept should be read together with its market convention, measurement horizon and underlying instrument. BondStats presents it as an analytical reference rather than investment advice; instrument documentation and primary market rules remain authoritative.
Related Conventions
BondStats reference content is independently written. Mathematical relationships, abbreviations and market conventions are presented for educational and analytical use.