EUR/USD is quoted at 1.10. What does this mean?
- A. You receive 1.10 euros for every dollar you sell
- B. One US dollar costs 1.10 euros
- C. The euro has fallen 10% against the dollar
- D. One euro costs 1.10 US dollarsCorrect
Takeaway. In a currency pair the first code is the unit being priced and the second is the money: the number is how much of the second buys one of the first.
