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WHAT IS AN EXCHANGE RATE ?

The unit price of one country may be used in the buy/sell operations carried out at the market inside the country. For example, a company in Azerbaijan needs to import goods from Europe and thus it has to give euros instead manats to carry out this operation. For this reason the economic relations require the use of foreign currencies. A currency just like a product may be bought or sold. 

The exchange rate expresses the opposite of the national currency in the foreign price unit.

The price of any currency unit is determined according to its ask and bid level by the Central bank of the related country within the framework of сurrency interventions. At the international exchanges every unit price has its own generally accepted symbol. Most frequently used price unit codes are given below in the table.


Symbols of Popular Currencies

Currency

Code

Currency

Code

US Dollar

USD

Turkish Lira

TRY

Euro

EUR

Canadian Dollar

CAD

British Pound Sterling

GBP

Swiss Franc

CHF

Japanese Yen

JPY

Australian Dollar

AUD

Each currency pair consists of 6 symbols. 


The first 3 letters of the pair stand for the first, the other 3 letters for the second currency. 

Example: 

The Exchange rate of Euro to American dollar is drawn as EUR/USD, the exchange rate of American dollar to Turkish lira as USD/TRY.


HOW TO BE A TRADER?

We invite you into the investment world of InvestAZ. You can follow the steps below to be an online investor with us.

  • Fill the demo account form to open an account and trade  risk free positions.

  • You can apply to open a real account entering the world of investment.

  • After depositing the initial investment you can easily start to trade.

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