What is a Two-Way Price?

When trading in the foreign exchange market, two-way quotes are usually used. That is, the bidder (QuotingParty bank or broker) reports to the customer both the Bid Rate and the Offer Rate. As the currency quotation method has direct and indirect quotation methods, in order to facilitate and clearly indicate the currency of the "subject object" to buy or sell, we recommend here the role of the "quoted currency". The English proper noun is (Reference Currency shortened (abbreviated as R.C.)), which is a currency used to indicate the price of other currencies. It plays the role of a "commodity" on the exchange rate.

Two-way quote

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When trading in the foreign exchange market, two-way quotes are usually used. That is, the bidder (QuotingParty bank or broker) reports to the customer both the Bid Rate and the Offer Rate. As the currency quotation method has direct and indirect quotation methods, in order to facilitate and clearly indicate the currency of the "subject object" to buy or sell, we recommend here the role of the "quoted currency". The English proper noun is (Reference Currency shortened (abbreviated as R.C.)), which is a currency used to indicate the price of other currencies. It plays the role of a "commodity" on the exchange rate.

Its notation is:

××× quote currency = 1 quote currency.

Regardless of whether it is a direct quote method or an indirect quote method, any currency that plays the role of "commodity" is the quoted currency.

For example: 0.8800USD = 1EUR is EUR. C. The quoted currency. 1.6600CHF = 1USD is USD. C. The quoted currency. 133.000JPY = 1USD is R. C. The quoted currency.

Generally speaking, the bidder (bank or broker) will report both the bid and ask prices, such as: Euro: EUR / USD = 0.800 / 0.8810. The first number 0.8800 indicates that the bidder is willing The price of the quoted currency EUR is the so-called buying exchange rate BidRate. The second number 0.888 indicates that the bidder is willing to sell the quoted currency price. This is the selling exchange rate OfferRate. In the international foreign exchange market, when trading is usually only reported as 00/10, once the transaction is completed, it is confirmed that the entire exchange rate figure is 0.8800 or 0.810.