eur gbp pip value forex trillion US Dollars is traded every day in the wholesale foreign exchange market. That equates to 1 billion US Dollars per minute.
FX spot prices are usually quoted to between 4 and 6 significant figures. USD, the most frequently traded currency pair, has seen rates such as 0. The number of decimals does not vary for a particular currency pair according to movements in the rate, except in the case of devaluations. The bid price is where the bank is willing to buy CCY1 and the offer price is where the bank is willing to sell CCY1. In this case, the bank is willing to buy EUR against USD at 1. 0345 and is willing to sell EUR against USD at 1. The difference between the bid and the offer is called the spread.