This is the price that the trader of Forex buys his base currency in. In the quote, the Forex bid price appears to the left of the currency quote. This is the price that the trader buys in. It appears to the right of the Forex quote. Exchange rates quoted by banks to their large corporate, institutional and government clients are also very competitive, with narrow spreads.
But it is an entirely different story as far as retail clients are concerned. The spread between the bid and ask price for a currency in the retail market is usually quite large, and may also vary significantly from one forex dealer to the next. Please include your IP address in your email. The first currency is referred to as the base currency and the second as the counter or quote currency. If buying, an exchange rate specifies how much you have to pay in the counter or quote currency to obtain one unit of the base currency.