Currency Pairs Explained

Currency pairs show the exchange rate between two currencies. Understanding the notation helps you read rates and compare prices across markets.

How Pairs Are Written

A currency pair is written as BASE/QUOTE, e.g. USD/EUR or GBP/JPY. The first currency is the base, the second is the quote. The rate tells you how many units of the quote currency you get for one unit of the base.

💱 Use our Currency Converter and pair pages (e.g. GBP to EUR) to see live rates for many pairs.

Major vs Minor Pairs

Majors — Pairs with USD: EUR/USD, USD/JPY, GBP/USD. Most traded, tightest spreads.
Crosses — Pairs without USD: EUR/GBP, EUR/JPY, AUD/CAD.
Exotics — Pairs with emerging-market currencies: USD/TRY, USD/ZAR. Often wider spreads.

Direct vs Indirect Quotes

When USD is the base (e.g. USD/EUR = 0.92), it's a direct quote: how many euros per dollar. When USD is the quote (e.g. EUR/USD = 1.09), it's indirect: how many dollars per euro. Both convey the same relationship; just inverted.

Using Pairs on Stascash

Our Currency Converter supports 120+ currencies. Popular pairs (e.g. USD to EUR, GBP to USD) have dedicated pages with live rates, charts, and conversion tools. See our Exchange Rate Spreads guide to understand why the rate you get may differ from the mid-market rate.

Reading the Rate

If EUR/USD = 1.09, one euro buys 1.09 US dollars. If USD/JPY = 149, one US dollar buys 149 yen. The rate always reflects the price of the base currency in terms of the quote currency.

For informational purposes only. Not financial advice.