This is the currency which is the first in a currency pair (see). If you open a transaction on the Forex market (see), each time you buy or sell the base currency is first, and the second pair is the quote currency (see). For example, in the pair USD/JPY (dollar/yen) the USD is the base currency. It is important to remember that the base currency is always assumed to be one (1) and in the currency pair rate USD/JPY, you can understand how much yen you can get for a dollar. If you are in the terminal (see) and want to open a deal to “Buy” and the USD/JPY rate is equal to 100 000 monetary units, it turns out that you can buy 100,000 thousand dollars for a yen.