Quote Currency

Quote Currency

In foreign exchange, the second currency listed in a currency pair. Normally, it is a foreign currency, as one usually calculates the quote currency in terms of the domestic currency.

The quote currency is expressed in terms of the base currency when calculating exchange rates. For example, if one is calculating the exchange rate of the U.S. dollar to the British pound and the pound is the base currency, it is expressed as GBPUSD and read as "dollars per one pound."
References in periodicals archive ?
Mallya, chairman and managing director of Bank of Baroda ( BoB) said, " It would enable banks to quote currency in the form of a symbol in the international markets ( particularly in the foreign exchange market).
Buying one unit of the currency pair at the ask price implies buying one unit of the first, base currency and selling an equivalent amount of the second, quote currency (to pay for the base currency).