Several of the world's major currency exchange rates follow a specific quotation convention that is the result of tradition and history. The exchange rate between the U.S. dollar and the British pound is always quoted as "dollars per pound."

Question

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The exchange rate between the U.S. dollar and the British pound is traditionally quoted as "dollars per pound," reflecting a longstanding convention in how major currency pairs are quoted, where the base currency is the British pound and the quote currency is the U.S. dollar.

Several of the World's Major Currency Exchange Rates Follow a Specific