Sometimes, EUR / USD is referred to as a currency pair. We can, however, reverse the exchange rate. So an exchange rate of EUR / USD 1.5000 is the same as an exchange rate of USD / EUR 0.6666 for (we are working with four decimal places, most brokers also works with 4, but many choose to have 5 decimal places) . In other words, $ 1 is worth € 0666, but while the EURUSD EURUSD is quoted or merely the USD / EUR or USDEUR is not listed. There is a convention in this financial market which indicates that most currencies tend to be quoted against the dollar, but there are notable exceptions, such as EUR / USD we have mentioned and that is the most traded pair in this market, the GBP / USD ( Sterling) and the AUD / USD (Australian dollar) that other pairs are traded but not much follow the convention of being listed for them, and answering the question: How many dollars are needed to acquire or 1 1 GBP AUD? This is not as confusing as it may seem. And I tried to address here the inversion for the currency pairs do not think it a very strange concept.
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