quoted currency

A trading position of one lot that experiences a rate change of 1 pip therefore changes in value by 10 units of the quoted currency.

An investor enters into a forward agreement to purchase a notional amount, N, of the base currency at the contracted forward rate, F, and would pay NF units of the quoted currency.

On the fixing date, that investor would theoretically be able to sell the notional amount, N, of the base currency at the prevailing spot rate, S, earning NS units of the quoted currency.

The news agency quoted currency dealers in Damascus and elsewhere saying that it cost at least 205 Syrian pounds to buy one American dollar, meaning that the Syrian currency had lost 20 percent of its value in a week and had fallen 77 percent since March 2011, when the conflict began.