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How to read an exchange rate. As mentioned, an exchange rate is expressed as a currency pair, for example, USD/GBP ? GBP is the abbreviation of British Pound Sterling. The first currency that's listed in the pair (USD) always represents one unit of that currency, meaning 1 USD.

Circle Internet Financial, issuer of the USDC stablecoin, will have its financial statements and asset reserves audited by Deloitte in place of Grant Thornton, it said Tuesday.

Axes: The ?y? axis on the foreign exchange market is the ?Exchange rate in Pesos,? ?Pesos per Dollar,? or my preference, ?Price of Dollars in Pesos.? The ?x? axis is the quantity of US Dollars. Just like every other market, where the two curves intersect you find the equilibrium price and equilibrium quantity.

Calculate an FX rate using this simple formula: Your starting figure (in your local currency) divided by the final number (in the new foreign currency) = the exchange rate.

Stablecoin issuer Tether kept its funds in four banks, two investment management firms, two gold depositories and a gold broker and on its own sister company Bitfinex in March 2021, documents obtained by CoinDesk show.

The Bottom Line The order in which the pair are listed matters. Remember the first currency is always equal to one unit and the second currency is how much of that second currency it takes to buy one unit of the first currency. From there you can calculate your conversion requirements.

Exchange rates for floating currencies are based on the supply and demand of one currency versus another. The exchange rates between two currencies shift as the supply and demand for each change.

Each line features two currencies, because these are the currencies that will be exchanged. The number at the end of each line is the current exchange rate that you will receive. So, for the first line, were you to exchange $1 US dollar, you'd get ?0.74 euros in exchange.