BASE CURRENCY
A currency pair’s base currency is the initial currency in the pair. It displays the value of the base currency in relation to the second currency. If the USD/CHF (United States Dollar/Swiss Franc) rate is 1.6215, one USD is worth CHF 1.6215. The US dollar is commonly used as the basis currency for quotations in the forex market, which means that quotes are stated as a unit of $1 USD per the other currency quoted in the pair. The British pound, the euro, and the Australian dollar are the main exceptions to this norm.
