Currency forexUSD - $ - buck - greenback - U.S. dollar.
EURO - EURO - ECU - XEU - Euro.
GBP - & - STG - POUND - CABLE (CBL) - a pound.
CHF - SFR - Swissie - swiss - Swiss franc.
JPY - YEN - yen.
AUD - Aussie, Australia, australian dollar - Australian dollar.
CAD - Canadian, Canada, canadian dollar - Canadian dollar.
In the Forex market the most common transactions are transactions for the four currency pairs: GBP / USD; USD / CHF; EUR / USD; USD / JPY. The left in each ratio indicates the base currency (base currency), on the right - the quote currency (quoted).The concept of exchange rate
Exchange rate - the price (quote) the currency of one country expressed in monetary units of other countries in the purchase and sale transactions. This price is based on supply and demand in a particular currency in a free market. Furthermore, this price can be strictly regulated the government's decision or its chief financial authority (Central Bank).
In observing the level of the exchange rate is fixed two courses:
The course of the seller (on which the bank sells the currency);
The course of the buyer (on which the bank buys the currency).
These rates differ because foreign currency transactions are treated as a means of profit. The difference between these courses form the margin.Species in exchange rates
Direct quotation (direct quatation) - is the amount of local currency you can buy a unit of foreign currency. In most countries, foreign exchange rates are expressed in national currency. This so-called system of direct quotations. For example, in Japan, one dollar ($) will be equated to a certain amount of Japanese Yen (JPY), and in New York, one Japanese yen will be equal to a certain number of cents (or dollars). Quotation of the USD / JPY - 120.56 means that one U.S. dollar is equal to 120.56 Japanese yenam, USD / CHF - 1.5530.
Indirect (inverse) quotation (indirect quatation) - the amount of foreign currency per unit sold locally. The UK is one of the few countries that use the system of indirect quotations. Example: quote GBP / USD - 1.5855 means that one British pound equals 1.5855 U.S. dollars, EUR / USD - 1.0343.
Cross-training (cross rate) - refers to the ratio between the two currencies, which stems from their policy towards third currency. Commonly used cross-rates with the dollar as the third currency.
With operations in the global market are often used cross-rates with the U.S. dollar as the U.S. dollar is not only a major reserve currency, but currency transactions in most foreign exchange transactions. All the calculations for the cross-rates related to the dollar, determined by multiplying the EUR / CHF = USD / CHF X EUR / USD.
All the calculations for the cross-rates associated with sterling, are determined by dividing the GBP / EUR = GBP / USD: EUR / USD.
Spot rate (spot rate) - include currency exchange counterparty banks on the second business day following the date of the transaction at the rate applicable at the time of closing.
Spot rate reflects how highly regarded national currency at the time of the operation outside the country.