<p>The <strong>quote currency</strong> in Forex is the second currency in a currency pair, quoted against the <a href="/NewSite/encyclopedia/base-currency/" class="ency-link">base currency</a>. It's the one that's being bought or sold, with its value determined by the base currency.</p>
<p>Understanding the quote currency is crucial for traders as it impacts the direction of price movement. For instance, in the EUR/USD pair, the quote currency is USD. If the pair's price rises, it means the USD is strengthening against the EUR.</p>