Foreign exchange positions are similar to stock market positions. It refers to the ratio of the funds actually invested by investors to the funds actually invested. The four major currencies "1 point" are all 1 cent except Japanese yen. The 1 point of British pound, euro and Swiss franc is 1 cent, that is, 0.000 1 dollar [yuan, jiao, fen, profit and fen].
In order to express the exchange rate accurately and conveniently, it is usually expressed by 5 digits, and the unit with the smallest change is usually called "point".
For example, the minimum unit of USDJPY quotation 120.00 is 0.0 1 yen, or 0.0 1 yen is 1 point. The minimum unit of 0.9800 quoted in GBPUSD is 0.000 1, or 0.000 1 is 1.
Extended data
When the exchange rate changes, the difference of point fluctuation is "point difference". For example, when USD/JPY changes from 120.00 to 12 1.00,121.00 =1.00. When GBPUSD changes from 1.0000 to 0.9800, the price difference is 200 points.
Quotation price difference: In foreign exchange transactions, there is a price difference between the buying price and the selling price. For example, when USDJPY quotes 120.00/10,10 is the selling price, 120.65438+. When GBPJPY quotes 185.50/ 185.60, the price difference is 10 point.
Fee spread: convert the fee charged for each transaction into the spread. No matter what currency is traded, the handling fee will be converted into the spread of that currency.
"Point value": the value converted into the currency per 1 point.
Integral value calculation formula = contract unit * minimum change integral unit
The "bid price" refers to the price at which the market is willing to buy the benchmark currency (in our example, the benchmark currency is the Australian dollar), while the "selling price" refers to the price at which the market is willing to sell the benchmark currency (the Australian dollar) in order to exchange it with the relative currency (the US dollar).
Baidu encyclopedia-foreign exchange spread