It is also typically considered the domestic currency or accounting currency. The first currency quoted in a currency pair on forex. Here we can see the different parts that make up a forex currency pair. Forex trading is the simultaneous buying of one currency and selling another.
The first currency listed in the pair is known as the base currency and the second currency. Therefore when trading currencies we will always see them.
Currencies are traded through a broker or dealer, and are traded in pairs. In a currency pair, the first currency is called the base currency and the second is the quote currency, a longtime convention for EUR/ USD forex.