Variable currency

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The variable currency in a foreign exchange quotation is the currency which there is a variable number of.

For example in the quotation GBP/USD 1.4600 or 1 GBP = 1.4600 USD, the variable currency is USD; meaning the variable number 1.4600 US dollars is exchanged for one British pound.

Also known as the Terms currency or the Underlying currency.

See also

Other resources

Base jumper - applying variable and base currencies, The Treasurer