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Sunday, September 4, 2011

Pip

A pip is the smallest change in an exchange rate. Most currency pairs are quoted with 4 decimal points. For instance, today's AUDMYR is quoted as 3.1565. So it means that the pip for it is 0.0001 or 1/100 of a cent. Another name for it is a basis point.

Posted by Choo Yang Tan at 3:02 AM
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Labels: basis point, Pip
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