Counter Currency Definition | CFI

counter currency

The counter currency, otherwise known as the quote currency, is the second currency listed within a currency pair.

 

When a trader buys a currency pair, they are selling the counter currency and if they are selling a currency pair, they are buying the counter currency.

 

The unit of measurement to determine the change in value between the base and the counter currency is referred to as a [pip].

 

Key takeaways:

  • Counter currency is also known as the quote currency.
  • Counter currency is the second currency that is listed in a currency pair.
  • The counter, or quote, currency determines how many units of that currency are needed to buy one unit of the base currency.
  • A pip is the unit of measurement used to determine the change in value between the base and the counter currencies.
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