When you see the following for example:
EUR/USD = 1.12
This means:
1 EUR (base) = 1.12 USD (quote)
So the number being quoted is how many units of the quote currency (USD) you get for 1 unit of the base currency (EUR).
When you see the following for example:
EUR/USD = 1.12
This means:
1 EUR (base) = 1.12 USD (quote)
So the number being quoted is how many units of the quote currency (USD) you get for 1 unit of the base currency (EUR).