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Virgil R Cook

Online Success With Virgil R Cook

Posts Tagged ‘forex rate’

What A Forex Rate Is And How To Read It

August 27th, 2009 | Author: Virgil Cook

When we talk about the forex rate, we’re talking about the relative value between two currencies — how many of one the other is worth, in other words. For forex traders, the forex rate is the basic information they use to do their job. The rate is to a forex trader what nails are to a carpenter.

If you plan to get involved in forex trading, reading and understanding the forex rates is absolutely vital to your success, like learning the basics of addition before becoming a mathematician.

A forex rate is always expressed in pairs, followed by a number. The number is how many of the second currency you’d get for one of the first one. For example, you might see USD/EUR: 0.7928. That means that one U.S. dollar iscurrently worth .7928 euros. If you were to exchange $100, you’d get 79.28 euros for it. Since the number in this rate (0.7928) is less than 1, that means the second currency is currently stronger than the first one — that is, the euro is stronger than the U.S. dollar. Read the rest of this entry »

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