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Hi,
I have a question relating to the exchange rate symbols.
For example, we have a figure USD/Euro = 1.2.
What does this mean and what is considered to be the base and foreign currency?
I’m confused since my teacher said that in this case, Euro will be base currency and USD is foreign currency however, as I look at other sources they show the opposite answer.
Thank you so muchYour teacher is correct, and it means that 1 euro is equal to 1.2 USD.
I do suggest that you watch again my free lectures on foreign exchange risk management.
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