Exchange rates change all of time , and many times this change is be slightly not many people noticed, these changes are very slight doesn't make a difference with small amounts but these changes make difference with huge amounts , so the traders and investors keen to monitor any change in exchange rate to take advantage of it in trading , and make profits , that's why exchange rates monitored even part of ten thousands part for the Euro ,Pound ,Franc and most of other currencies
If the Euro price against the Dollar is 0.9892...4 digits after the decimal point, part of ten thousands part ,the least possible change to happen is 0.0001 and called point , for example: if the price of Euro against Dollar 0.9825 , then change to 0.9826 This means that the euro has risen pip,and if Euro against dollar is 0.9825 ,then change to 0.9824 this means that Euro dropped pip
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