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Thread: Currency Abbreviations

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    Default Currency Abbreviations

    All currencies are traded in pairs and each own abbreviation.


    EUR : Euro
    USD :US Dollar
    GBP :British Pound
    JPY :Japanese Yen
    CHF :Swiss Franc
    AUD :Australian Dollar
    CAD :Canadian Dollar
    NZD :New Zealand Dollar

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    Why they always have different pairing?
    Like USD/JPY ans GBD/USD

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    Because in forex when we buy base currency, we also sell another - its pair - and vice versa.

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    FXMalay Supporter arialun's Avatar
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    Quote Originally Posted by goldsniper View Post
    All currencies are traded in pairs and each own abbreviation.


    EUR : Euro
    USD :US Dollar
    GBP :British Pound
    JPY :Japanese Yen
    CHF :Swiss Franc
    AUD :Australian Dollar
    CAD :Canadian Dollar
    NZD :New Zealand Dollar
    Could anyone tell me why is it GBP/USD pair is called 'Cable'? All this while, I'm so curious what synonyms is it related to this par?sm_rolleye

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    oo.. it is called cable because in the old days, to trade this pair, the orders were transmitted (phone) literally through the transatlantic cable buried under the oceans to the UK.

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    Quote Originally Posted by goldsniper View Post
    Because in forex when we buy base currency, we also sell another - its pair - and vice versa.
    What I mean Is why not GBP/USD is not USD/GBP or USD/JPY become JPY/USD

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    Quote Originally Posted by goldsniper View Post
    oo.. it is called cable because in the old days, to trade this pair, the orders were transmitted (phone) literally through the transatlantic cable buried under the oceans to the UK.
    I didn't know that thanks for the info

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    Quote Originally Posted by dude_89 View Post
    What I mean Is why not GBP/USD is not USD/GBP or USD/JPY become JPY/USD
    It's just the way it is standardised.
    If you want to buy GBP and sell USD, you buy GBP/USD.
    If you want to sell GBP and buy USD, you sell GBP/USD.
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    What is sterling? I mean I understand that it is a currency pair, what is it precisely?

  10. #10
    bisaddkunlevics
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    It means pound sterling,UK currency.Are you satisfy?

  11. #11
    educthms
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    There are many different currencies in use in the world. A few have special symbols to represent them but most use the first letter of the currency name. Although the first letter of the currency name works well when describing a local currency, in an international context it leads to confusion. Does P20 mean 20 Pesetas, Pesos, Pounds, Pataca, Pa'anga or something else? And if it means 20 Pesos, are they Argentinian Pesos, Bolivian Pesos, Chilean Pesos, Colombian Pesos, or some other variety of Peso? For this reason we need an unambiguous, unique, standardized way of referring to each currency.

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    ceestech
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    Quote Originally Posted by RebateFX.com View Post
    It's just the way it is standardised.
    If you want to buy GBP and sell USD, you buy GBP/USD.
    If you want to sell GBP and buy USD, you sell GBP/USD.
    apart from that what you find out is that in offline market talking about the paper currency you find out that currencies with higher market value a those that come 1st like the EURO USD.

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    Hello ceestech

    The Queen's currencies (GBP/AUD/NZD) show as base against the USD.

    EUR/all = The EUR as a new currency is an indirect quote, so it becomes a "Base" verus the all.

    USD/CAD = The USD is an indirect quote, so it becomes a "Base" verus the CAD.

    Good luck
    ilearn2t

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    Default

    There are also many other currencies in the stock market which are being traded although the currencies mentioned above are the major currencies which are mostly traded in these market .

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    Quote Originally Posted by goldsniper View Post
    Because in forex when we buy base currency, we also sell another - its pair - and vice versa.
    Yea you are right. and the base currency is also called primary currency while second one is called secondary currency.

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