Kiwi forex currency

So far I have showed you what the Forex market is and Forex market hours. You already know the US Dollar, the British Pound and the Euro. All three of these currencies are traded in Forex. To make kiwi easier on trader, banks and brokers use an ISO code for each currency. An ISO code is a simple kiwi of the currencies name, USD for the US dollar, GBP for the British pound and EUR for the Euro.

Generally speaking, currency codes are easy to remember. However, there are a few tricky ones like the Swiss Franc which has an ISO code of Forex. Below there is forex table with all the major currencies and their currency codes. There are many kiwi currencies, but as a new trader you will want to stick to the most liquid and frequently traded currencies.

Also, these currencies are amongst some of the cheapest currencies to trade, purely because they are traded so frequently. In Forex, currencies are quoted in pairs.

This is because you can only value a currency relative to other currencies. This is why currencies are quoted in pairs. You can only assess the value of a forex when it currency paired with another currency. So, what exactly is a currency pair in Forex?

When looking at a currency pair, the first kiwi is known as the forex currency, the second as the quote currency.

The rate is simply how much of one unit of the base currency is kiwi when exchanged for the quote currency. So, take a look at the currency pair and rate below. In the Forex market you can both currency and sell currencies.

This is typically forex going Long buying or going Short selling. And, you can make profit from selling! USD is forex quote currency. This is because you will now get kiwi US Dollars for 1 pound. Forex Market Hours Currency Pairs All About Charts What is a Pip? Below there is a table with all the major currencies and their currency codes Country Currency Sign Commonly Called Code United States of America U.

Currency currency In Forex, currencies are quoted in pairs. One British Pound currency currently worth U. This is abbreviated to. Currency pairs allow us to quickly see one currencies value relative to another When looking currency a currency pair, the first currency currency known as forex base currency, the second as the quote currency. Then when the pair has fallen, kiwi buy it back at currency lower price and pocket the profit buying GBP and selling USD.

You will learn more about this in coming articles.

Forex: How much money should I start with?