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 ?
[s.sub.t+k] = logarithm of spot exchange rate(quote currency units per unit of base currency), [i.sub.t] = nominal interest rates of quote currency, [i.sup.*.sub.t] = nominal interest rates of base currency.
where [s.sub.t] = logarithm of spot exchange rate at time t, [s.sub.t+k] = logarithm of spot exchange rate at time t + k, [i.sub.t] = nominal interest rates of quote currency, [i.sup.*.sub.t] = nominal interest rates of base currency, [[epsilon].sub.t+k] = disturbance term, uncorrelated with information available at time t.
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).
The second currency, CAD, refers to as the counter or quote currency. The currency pair exchange rate is given as a bid price and an ask price.