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Currency symbol definition
A currency symbol is an identifier that represents a currency in financial markets. In forex, that usually means a three-letter ISO code such as USD (US dollar), EUR (euro), or JPY (Japanese yen).
Currency symbols also include the visual signs $, €, ¥, and £. Those signs are common in general finance, but forex platforms use ISO codes because they read clearly across global markets.
Every forex pair carries two currency symbols. The first is the base currency and the second is the quote currency, showing how much of the quote it takes to buy one unit of the base.
Currency symbol Example
You see GBP/USD = 1.2700. The symbols are GBP (British pound, the base currency) and USD (US dollar, the quote currency), so one British pound equals 1.2700 US dollars.
Common signs include $ for USD, € for EUR, £ for GBP, ¥ for JPY, and A$ for AUD. Forex platforms use the ISO codes such as USD and EUR, while general finance often uses the signs.
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