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What is Base Currency?

The base currency, or denominator, is the first in a currency pair, the second currency is the quoted currency. The value of the quoted currency is expressed in terms of one unit of the base currency.
 
The first currency quoted in a currency pair on forex. It is also typically considered the domestic currency or accounting currency. For accounting purposes, a firm may use the base currency to represent all profits and losses.
 
It is sometimes referred to as the "primary currency".
 
Examples: USD/JPY, the US Dollar is the base currency; EUR/USD, the EURO is the base currency.

 
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