What is currency pairs in forex?

[Mdraghib]

Let me tell you about the currency pairs, We trade currency pairs in forex trading and there are 3 types of forex pairs Major, Minor, Exotic you can find little about them below:

MAJOR PAIRS

Major pairs involve the world's most influential currencies. The major pairs are the most heavily traded forex pairs and are widely regarded as the ones that drive the global forex market. The U.S. dollar (USD), Euro (EUR), Japanese Yen (JPY), British Pound (GBP), and Swiss franc (CHF) are the five currencies that make up the major pairs. All the highly traded currency pairs include the USD along with other major currencies of the world.

MINOR PAIRS

Minor currency pairs refer to those pairs which do not include the USD (US Dollar) is not included and are less common than major currencies. This implies that they can carry higher risk than a major pair and draw wider spreads from brokers. Additionally, their liquidity may be low, making it challenging to trade in them.

EXOTIC PAIRS

Exotic pairs combine a major currency with a currency from a growing economy. Since they are less prevalent and riskier than the major and minor pairs, they additionally generate wider spreads and are only profitable under specific circumstances.
 

If you want to more about currency pairs in brief you can visit here: Forex currency pairs