Introduction to forex......part 1,,

HI,friends to day i will share about forex who are beginner in forex they have to know about this,,,,,,,,,,,,,

Currency Pairs

Currencies are traded in pairs. A currency pair is the quotation of the relative value of a currency unit against the unit of another currency.
base currency:    The first currency of a currency pair is called the base currency,
quote or counter currency:  the second currency is called the quote, or counter, currency.
Currency pairs are written by concatenating the ISO currency codes (ISO 4217) of the base currency and the quote currency, separating them with a slash character.
Example: GBP/USD
GBP -> base currency
USD -> quote/counter currency
According to the average daily trading volume and to the liquidity we distinguish between: Majors,
Minors
and Exotic Pairs.
Major pairs
The most traded currency pairs in the world are called the Majors.
They involve Euro, US dollar, Japanese yen, Pound sterling, Australian dollar, Canadian dollar and the Swiss franc etc.
The Majors are:
EUR/USD - Euro/US dollar
USD/JPY - US dollar/Japanese Yen
GBP/USD - British Pound/US dollar
AUD/USD - Australian dollar/US dollar
USD/CHF - US dollar/Swiss franc
USD/CAD - US dollar/Canadian dollar
These currency pairs have high liquidity and represent more than 80% of the total Forex volume.
Minor Pairs
The Minor Currency Pairs ("Minors”) consist of those currencies traded less actively than the Majors, although their economies are still significant and they also tend to be active in international trade.
Exotic Pairs
The Exotic Pairs ("Exotics") are those pairs that are from emerging economies rather than from developed/industrialized nations. This includes:

1.     USD/TRY - US dollar/Turkish lira
2.     EUR/TRY - Euro/Turkish lira
3.     USD/ZAR - US dollar/South African rand
4.     EUR/ZAR - Euro/South African rand
5.     USD/CNY - US dollar/Chinese Yuan
6.     USD/INR - US dollar/Indian Rupee
7.     USD/MXN - US dollar/Mexican peso
8.     USD/SGD - US dollar/Singapore dollar
9.     etc.

Currency pairs that are not paired versus the dollar are called "Currency crosses" or simply "Crosses". Pairs that involve the euro are often called "Euro Crosses".
Currency Crosses

1.     GBP/CAD - British pound/Canadian dollar
2.     GBP/CHF - British pound/Swiss franc
3.     GBP/JPY - British pound/Japanese yen
4.     GBP/NZD - British pound/New Zealand dollar
5.     GBP/AUD - British pound/Australian dollar
6.     CAD/JPY - Canadian dollar/Japanese yen
7.     AUD/JPY - Australian dollar/Japanese yen
8.     AUD/CAD - Australian dollar/Canadian dollar
9.     AUD/NZD - Aussie dollar/New Zealand dollar
10.     AUD/CHF - Australian dollar/Swiss franc
11.     NZD/JPY - New Zealand dollar/Japanese yen
12.     CHF/JPY - Swiss franc/Japanese yen

etc.

bye....