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A currency pair is the quotation of the relative value of a currency unit against the unit of another currency in the foreign exchange market.The currency that is used as the reference is called the counter currency, quote currency, or currency [1] and the currency that is quoted in relation is called the base currency or transaction currency.
An airline ticket showing the price with ISO 4217 code "EUR" (bottom left) and not with euro currency sign " € "ISO 4217 is a standard published by the International Organization for Standardization (ISO) that defines alpha codes and numeric codes for the representation of currencies and provides information about the relationships between individual currencies and their minor units.
United States dollar $ USD Centavo: 100 Ecuador: United States dollar $ USD Centavo: 100 Egypt: Egyptian pound: LE EGP Piastre [B] 100 El Salvador: United States dollar $ USD Cent: 100 Bitcoin [5] ₿ (none) Satoshi: 100000000 Equatorial Guinea: Central African CFA franc: F.CFA XAF Centime: 100 Eritrea: Eritrean nakfa: Nkf ERN Cent: 100 Estonia ...
For example, the purchasing power of the US dollar relative to that of the euro is the dollar price of a euro (dollars per euro) times the euro price of one unit of the market basket (euros/goods unit) divided by the dollar price of the market basket (dollars per goods unit), and hence is dimensionless. This is the exchange rate (expressed as ...
The market convention is to quote most exchange rates against the USD with the US dollar as the base currency (e.g. USDJPY, USDCAD, USDCHF). The exceptions are the British pound (GBP), Australian dollar (AUD), the New Zealand dollar (NZD) and the euro (EUR) where the USD is the counter currency (e.g. GBPUSD, AUDUSD, NZDUSD, EURUSD).
The koruna, or crown (sign: Kč; code: CZK, Czech: koruna česká), has been the currency of the Czech Republic since 1993. The koruna is one of the European Union 's eight currencies, and the Czech Republic is legally bound to adopt the euro in the future.
The euro is the second-most widely held reserve currency after the U.S. dollar. After its introduction on 4 January 1999 its exchange rate against the other major currencies fell reaching its lowest exchange rates in 2000 (3 May vs sterling, 25 October vs the U.S. dollar, 26 October vs Japanese yen). Afterwards it regained and its exchange rate ...
The European Union membership referendum in 2003 approved the country's accession with 77.3% in favour, and in 2004 the Czech Republic joined the EU. [6]Since joining the EU in May 2004, the Czech Republic has adopted fiscal and monetary policies that aim to align its macroeconomic conditions with the rest of the European Union.