The first three digits in the usually five-digit indications of exchange rates (the first two or three digits of a foreign exchange price or rate). – For example, if on June 11, 2007, 9:30 a.m. is quoted: EUR/USD 1.3747, 1.37 are big figures; the last two – in the example 47 – are called pips. – In foreign exchange trading, only the pips are regularly mentioned between traders, because the Big Figures are assumed to be known. – See exchange language, handle, pips, exchange rate.
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