The exchange rate describes how much one currency can buy of another currency. For example, the most commonly-traded currency pair consists of the euro and the U.S. dollar. It is always listed as EUR/USD and never the reverse order. When buying EUR/USD, you are actually buying euros while simultaneously selling U.S. dollars; when selling EUR/USD, you are selling euros and buying U.S. dollars.
Buying and selling of the currency pairs - five stars Forex
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