Big Figure In Forex Exchange Quotes
When you hear the term big figure in the forex world; the person is referring to the non-pip portion of the price quote. The term big figure is also referred to as a "handle". For example, the EUR/USD is currently trading at 1.5842 and the big figure would be 1.58. The fourth and fifth digits measure the number of pips, or points which is what most traders refer to when determing their profit.Currency pairs are commonly quoted with 4, and even 5, places after the decimal point depending on the broker you are using. However, the Japanese Yen is the exception to this rule as it trades at such a high multiple against the USD. Currently the foreign exchange rate for the USDJPY is 107.02 and therefore in this case, the big figure is 107 while the the pips or points are .02.