Pips: A pip is the smallest unit of price movement in the foreign exchange market. It represents the cost of trading and is expressed in pips, which is the smallest unit of price movement in the foreign exchange market. Spread: The spread is the difference between the bid and ask prices in a currency exchange. It represents the lowest price a seller is willing to accept for a currency and is typically higher than the bid price. It represents the highest price a buyer is willing to pay and is typically lower than the asking price.Īsk price: The asking price is the buying price in the foreign exchange market. Cross-rates are calculated using the base and counter currency exchange rates.īid price: The bid price is the selling price of a currency in the foreign exchange market. It is the currency against which the value of the base currency is being measured.Ĭross-Rates: Cross-rates are exchange rates between two currencies that are not the base or counter currency in a currency converter calculator. For example, in the USD/EUR currency pair, the US dollar is the base currency.Ĭounter Currency: The counter currency is the currency the user converts to. It is the currency converted from and denoted as the first currency in a currency pair. It is determined by supply and demand in the foreign exchange market and can fluctuate based on various factors such as economic conditions, political events, and interest rates.īase currency: The base currency is the starting point for currency exchange. Exchange rate: The exchange rate is the value of one currency with another.

World currency rates to inr