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Base currency vs counter currency

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FM Exams › Base currency vs counter currency

  • This topic has 3 replies, 2 voices, and was last updated 7 years ago by John Moffat.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • October 24, 2017 at 2:50 pm #413062
    mcfrank
    Member
    • Topics: 7
    • Replies: 4
    • ☆

    I tend to mix up between counter and base currencies. but I think I don’t understand them well. Please help me how to identify which is which.

    Thank you

    October 25, 2017 at 7:30 am #413122
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54679
    • ☆☆☆☆☆

    Exchange rates always quote the number of one currency that is equal to 1 unit of the other currency. The currency being quoted against (the one which is 1 unit) is the base currency.

    So, for example, if 1.2 $’s = 1 Euro, then euro is the base currency.

    I do suggest that you watch my free lectures on this. The lectures are a complete free course for Paper F9 and cover everything needed to be able to pass the exam well.

    October 25, 2017 at 8:50 am #413132
    mcfrank
    Member
    • Topics: 7
    • Replies: 4
    • ☆

    Thank you John, your explanation is very precise and very helpful.

    October 25, 2017 at 4:10 pm #413176
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54679
    • ☆☆☆☆☆

    I am pleased that you found it helpful 🙂

  • Author
    Posts
Viewing 4 posts - 1 through 4 (of 4 total)
  • The topic ‘Base currency vs counter currency’ is closed to new replies.

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