Forex exchange rate represents the relation of two currencies' values towards each other. It generally shows what amount of one currency is required to purchase one unit of another. Better understanding of this thing will let you start easier at Forex.
Most currencies on Forex are traded against the US dollar (USD). Four other most-traded currencies are: EUR (the euro), JPY (the Japanese yen), GBP (the British pound sterling), CHF (the Swiss franc). Sometimes AUD (the Australian dollar) is also included into this group of currencies called "the Majors" (because they form the majority of the currencies traded in Forex).
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