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USD/JPY, USD/EURO and USD/CAD are the currency pairs in terms of foreign exchange trading. Amongst them which one of the following is referred as the base currency for quotes ?

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Question

USD/JPY, USD/EURO and USD/CAD are the currency pairs in terms of foreign exchange trading. Amongst them which one of the following is referred as the base currency for quotes ?

A USD

B JPY

C Euro

D CAD

Answer & Explanation
Option: [A]

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