FOREX will have only one figure represented for the IQD/USD exchange rate. Short lesson: an exchange rate has both a base currency and a quote currency; base/quote. For example USD/KWD is the US Dollar versus the Kuwait Dinar. The base currency is the USD since its listed first, and the KWD is the quote currency. The question being asked with this formula is how much of the quote currency does it take to buy one unit of the base currency… [Post 1 of 2….stay tuned]
