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1. Shard Calculation

Query:

Response:

Calculated Shard: 152 (from laksa016)

2. Crawled Status Check

Query:

curl -X POST \
  'http://laksa152.int.ahrefs:8124/' \
  -H 'Content-Type: text/plain' \
  -H 'X-ClickHouse-Database: crawler3' \
  -H 'Authorization: Basic YXBpOg==' \
  -d 'SELECT getAhrefsURLFromUnparsed(src_unparsed) AS found_url, ifNull(toUnixTimestamp(download_stamp), 0) AS crawl_time, ifNull(toUnixTimestamp(props_url_first_seen), 0) AS first_indexed_time, download_http_code AS http_code, src_unparsed AS src_unparsed, src_root_hash AS src_root_hash, history_drop_reason AS history_drop_reason, meta_title AS meta_title, meta_descriptions AS meta_descriptions, attrs_boilerpipe_text AS attrs_boilerpipe_text, attrs_markdown AS attrs_markdown, attrs_readable_markdown AS attrs_readable_markdown, meta_canonical AS meta_canonical FROM crawler3.page_info_local FINAL PREWHERE (src_root_hash, src_unparsed) IN ((getAhrefsRootHashFromUnparsed(getAhrefsUnparsedNoserviceFromURL(\'https://en.wikipedia.org/wiki/Percentage_in_point\')), getAhrefsUnparsedNoserviceFromURL(\'https://en.wikipedia.org/wiki/Percentage_in_point\'))) FORMAT JSONEachRow'

Response:

{"found_url":"https:\/\/en.wikipedia.org\/wiki\/Percentage_in_point","crawl_time":1774754039,"first_indexed_time":1434575001,"http_code":200,"src_unparsed":"org,wikipedia!en,\/wiki\/Percentage_in_point s443","src_root_hash":"17790707453426894952","history_drop_reason":null,"meta_title":"Percentage in point - Wikipedia","meta_descriptions":[],"attrs_boilerpipe_text":"From Wikipedia, the free encyclopedia\nThis article is about the unit of change in an exchange rate. For the countable items, see\nPip (counting)\n.\nIn\nforeign exchange markets\n(forex), a\npercentage in point\n(\npip\n) is a unit of change in an\nexchange rate\nof a\ncurrency pair\n. A pip is the smallest whole unit price move that an exchange rate can make, based on forex market convention.\n[\n1\n]\nIt's important because forex trading involves tiny fluctuations in exchange rates, and Pips provides a standardized way to express these changes. By using Pip, traders can easily understand and discuss price movements, and calculate profits and losses, and manage risks more effectively.\n[\n2\n]\nThe major currencies (except the\nJapanese yen\n) are traditionally priced to four\ndecimal\nplaces, and a pip is one unit of the fourth decimal place: for dollar currencies this is to\n1\n⁄\n100\nof a\ncent\n. For the yen, a pip is one unit of the second decimal place, because the yen is much closer in value to one-hundredth of other major currencies.\n[\n3\n]\nIn the forward foreign exchange market, the time value adjustment made to the spot rate is quoted in pips, or FX points or forward points.\n[\n4\n]\nA pip is sometimes confused with the smallest unit of change in a quote, i.e. the\ntick size\n. Currency pairs are often quoted to four decimal places, but the tick size in a given market may be, for example, 5 pips or\n1\n⁄\n2\npip.\nIf the currency pair of the\nEuro\nand the\nU.S. Dollar\n(EUR\/USD) is trading at an exchange rate of 1.3000 (\n€1\n=\nUS$1.3\n) and the rate changes to 1.3010, the price ratio increases by 10 pips.\nIn this example, if a trader buys 5 standard lots (i.e. 5 × 100,000 = 500,000) of EUR\/USD, paying\nUS$650,000\nand closes the position after the 10 pips' appreciation, the trader will receive\nUS$650,500\nwith a profit of\nUS$500\n(i.e. 500,000 (5 standard lots) × 0.0010 =\nUS$500\n). Most retail trading by speculators is conducted in\nmargin accounts\n, requiring only a small percentage (typically 1%) of the purchase price as\nequity\nfor the transaction.\nThe Japanese Yen is an exception to this rule because of its worth against the US dollar being 0.01.\n[\n5\n]\nIf the NZD\/USD spot is trading at 0.8325 and the NZD\/USD 1-year forward contract is traded at −270 pips, the outright 1-year forward is priced at 0.8055 (= 0.8325 − 0.0270).\nElectronic trading platforms\nhave brought greater price transparency and price competition to the foreign exchange markets.\n[\n6\n]\nSeveral trading platforms have extended the quote precision, or \"\ntick size\n\", for most of the major currency pairs by an additional decimal point; the rates are displayed in\n1\n⁄\n10\npip.\nTable of pip values\n[\nedit\n]\nThe table portrays pip values for selected currencies as used by Fenics MD\n[\n7\n]\nfor their forward contracts or non-deliverable forwards.\nCurrency\nPip value\nEURUSD\nUS$\n0.0001\nGBPUSD\nUS$\n0.0001\nUSDJPY\n¥\n0.01\nUSDCAD\nCA$\n0.0001\nAUDUSD\nUS$\n0.0001\nUSDCHF\nSFr\n 0.0001\nNZDUSD\nUS$\n0.0001\nUSDDKK\n0.0001\nkr.\nUSDSEK\n0.0001\nkr\nUSDNOK\n0.0001 \nkr\nUSDHKD\nHK$\n0.0001\nUSDBRL\nR$\n0.0001\nBasis point\n – One hundredth of one percentage point\nPip (counting)\n – Easily countable items\n^\n\"What Are Pips in Forex Trading and What Is Their Value?\"\n. Retrieved\n24 July\n2023\n.\n^\n\"Forex Position Size Calculator - Manage Your FX Risk | Trading Calculator | FX News Radar\"\n.\nwww.fxnewsradar.live\n. Retrieved\n2025-07-05\n.\n^\nAbdulla, Mouhamed (March 2014).\nUnderstanding Pip Movement in FOREX Trading\n(PDF)\n(Report). Archived from\nthe original\n(PDF)\non 2020-03-31\n. Retrieved\n2014-03-26\n.\n^\n\"Calculating fx forward points\"\n. Retrieved\n11 December\n2019\n.\n^\n\"Home\"\n.\nreferralforex.com\n. Archived from\nthe original\non 2017-11-01\n. Retrieved\n2017-11-17\n.\n^\n\"Pips and Spreads Explained - Forex Trading Basics\"\n.\nwww.forexbrokersreviews.com\n. Retrieved\n2017-04-04\n.\n^\n\"Fenics MD » RATES\"\n.\nFenics MD\n. Retrieved\n16 March\n2020\n.","attrs_markdown":"[Jump to content](https:\/\/en.wikipedia.org\/wiki\/Percentage_in_point#bodyContent)\n\nMain menu\n\nMain menu\n\nmove to sidebar\n\nhide\n\nNavigation\n\n- [Main page](https:\/\/en.wikipedia.org\/wiki\/Main_Page \"Visit the main page [z]\")\n- [Contents](https:\/\/en.wikipedia.org\/wiki\/Wikipedia:Contents \"Guides to browsing Wikipedia\")\n- [Current events](https:\/\/en.wikipedia.org\/wiki\/Portal:Current_events \"Articles related to current events\")\n- [Random article](https:\/\/en.wikipedia.org\/wiki\/Special:Random \"Visit a randomly selected article [x]\")\n- [About Wikipedia](https:\/\/en.wikipedia.org\/wiki\/Wikipedia:About \"Learn about Wikipedia and how it works\")\n- [Contact us](https:\/\/en.wikipedia.org\/wiki\/Wikipedia:Contact_us \"How to contact Wikipedia\")\n\nContribute\n\n- [Help](https:\/\/en.wikipedia.org\/wiki\/Help:Contents \"Guidance on how to use and edit Wikipedia\")\n- [Learn to edit](https:\/\/en.wikipedia.org\/wiki\/Help:Introduction \"Learn how to edit Wikipedia\")\n- [Community portal](https:\/\/en.wikipedia.org\/wiki\/Wikipedia:Community_portal \"The hub for editors\")\n- [Recent changes](https:\/\/en.wikipedia.org\/wiki\/Special:RecentChanges \"A list of recent changes to Wikipedia [r]\")\n- [Upload file](https:\/\/en.wikipedia.org\/wiki\/Wikipedia:File_upload_wizard \"Add images or other media for use on Wikipedia\")\n- [Special pages](https:\/\/en.wikipedia.org\/wiki\/Special:SpecialPages \"A list of all special pages [q]\")\n\n[![](https:\/\/en.wikipedia.org\/static\/images\/icons\/enwiki-25.svg) ![Wikipedia](https:\/\/en.wikipedia.org\/static\/images\/mobile\/copyright\/wikipedia-wordmark-en-25.svg) ![The Free Encyclopedia](https:\/\/en.wikipedia.org\/static\/images\/mobile\/copyright\/wikipedia-tagline-en-25.svg)](https:\/\/en.wikipedia.org\/wiki\/Main_Page)\n\n[Search](https:\/\/en.wikipedia.org\/wiki\/Special:Search \"Search Wikipedia [f]\")\n\nAppearance\n\n- [Donate](https:\/\/donate.wikimedia.org\/?wmf_source=donate&wmf_medium=sidebar&wmf_campaign=en.wikipedia.org&uselang=en)\n- [Create account](https:\/\/en.wikipedia.org\/w\/index.php?title=Special:CreateAccount&returnto=Percentage+in+point \"You are encouraged to create an account and log in; however, it is not mandatory\")\n- [Log in](https:\/\/en.wikipedia.org\/w\/index.php?title=Special:UserLogin&returnto=Percentage+in+point \"You're encouraged to log in; however, it's not mandatory. [o]\")\n\nPersonal tools\n\n- [Donate](https:\/\/donate.wikimedia.org\/?wmf_source=donate&wmf_medium=sidebar&wmf_campaign=en.wikipedia.org&uselang=en)\n- [Create account](https:\/\/en.wikipedia.org\/w\/index.php?title=Special:CreateAccount&returnto=Percentage+in+point \"You are encouraged to create an account and log in; however, it is not mandatory\")\n- [Log in](https:\/\/en.wikipedia.org\/w\/index.php?title=Special:UserLogin&returnto=Percentage+in+point \"You're encouraged to log in; however, it's not mandatory. [o]\")\n\n## Contents\nmove to sidebar\n\nhide\n\n- [(Top)](https:\/\/en.wikipedia.org\/wiki\/Percentage_in_point)\n- [1 Example](https:\/\/en.wikipedia.org\/wiki\/Percentage_in_point#Example)\n- [2 Fractional pips](https:\/\/en.wikipedia.org\/wiki\/Percentage_in_point#Fractional_pips)\n- [3 Table of pip values](https:\/\/en.wikipedia.org\/wiki\/Percentage_in_point#Table_of_pip_values)\n- [4 See also](https:\/\/en.wikipedia.org\/wiki\/Percentage_in_point#See_also)\n- [5 References](https:\/\/en.wikipedia.org\/wiki\/Percentage_in_point#References)\n\nToggle the table of contents\n\n# Percentage in point\n8 languages\n\n- [Deutsch](https:\/\/de.wikipedia.org\/wiki\/Pip_\$Forex\$ \"Pip (Forex) – German\")\n- [Español](https:\/\/es.wikipedia.org\/wiki\/Porcentaje_en_puntos \"Porcentaje en puntos – Spanish\")\n- [فارسی](https:\/\/fa.wikipedia.org\/wiki\/%D8%AF%D8%B1%D8%B5%D8%AF_%D8%AA%D8%BA%DB%8C%DB%8C%D8%B1_%D8%A7%D8%B1%D8%B2%D8%B4_%D8%AF%D8%A7%D8%B1%D8%A7%DB%8C%DB%8C \"درصد تغییر ارزش دارایی – Persian\")\n- [Français](https:\/\/fr.wikipedia.org\/wiki\/Percentage_in_point \"Percentage in point – French\")\n- [Polski](https:\/\/pl.wikipedia.org\/wiki\/Percentage_in_point \"Percentage in point – Polish\")\n- [Русский](https:\/\/ru.wikipedia.org\/wiki\/%D0%9F%D1%83%D0%BD%D0%BA%D1%82_\$%D1%8D%D0%BA%D0%BE%D0%BD%D0%BE%D0%BC%D0%B8%D0%BA%D0%B0\$ \"Пункт (экономика) – Russian\")\n- [Türkçe](https:\/\/tr.wikipedia.org\/wiki\/Percentage_in_point \"Percentage in point – Turkish\")\n- [Українська](https:\/\/uk.wikipedia.org\/wiki\/%D0%9F%D1%83%D0%BD%D0%BA%D1%82_\$%D0%B5%D0%BA%D0%BE%D0%BD%D0%BE%D0%BC%D1%96%D0%BA%D0%B0\$ \"Пункт (економіка) – Ukrainian\")\n\n[Edit links](https:\/\/www.wikidata.org\/wiki\/Special:EntityPage\/Q1628727#sitelinks-wikipedia \"Edit interlanguage links\")\n\n- [Article](https:\/\/en.wikipedia.org\/wiki\/Percentage_in_point \"View the content page [c]\")\n- [Talk](https:\/\/en.wikipedia.org\/wiki\/Talk:Percentage_in_point \"Discuss improvements to the content page [t]\")\n\nEnglish\n\n- [Read](https:\/\/en.wikipedia.org\/wiki\/Percentage_in_point)\n- [Edit](https:\/\/en.wikipedia.org\/w\/index.php?title=Percentage_in_point&action=edit \"Edit this page [e]\")\n- [View history](https:\/\/en.wikipedia.org\/w\/index.php?title=Percentage_in_point&action=history \"Past revisions of this page [h]\")\n\nTools\n\nTools\n\nmove to sidebar\n\nhide\n\nActions\n\n- [Read](https:\/\/en.wikipedia.org\/wiki\/Percentage_in_point)\n- [Edit](https:\/\/en.wikipedia.org\/w\/index.php?title=Percentage_in_point&action=edit \"Edit this page [e]\")\n- [View history](https:\/\/en.wikipedia.org\/w\/index.php?title=Percentage_in_point&action=history)\n\nGeneral\n\n- [What links here](https:\/\/en.wikipedia.org\/wiki\/Special:WhatLinksHere\/Percentage_in_point \"List of all English Wikipedia pages containing links to this page [j]\")\n- [Related changes](https:\/\/en.wikipedia.org\/wiki\/Special:RecentChangesLinked\/Percentage_in_point \"Recent changes in pages linked from this page [k]\")\n- [Upload file](https:\/\/en.wikipedia.org\/wiki\/Wikipedia:File_Upload_Wizard \"Upload files [u]\")\n- [Permanent link](https:\/\/en.wikipedia.org\/w\/index.php?title=Percentage_in_point&oldid=1298907296 \"Permanent link to this revision of this page\")\n- [Page information](https:\/\/en.wikipedia.org\/w\/index.php?title=Percentage_in_point&action=info \"More information about this page\")\n- [Cite this page](https:\/\/en.wikipedia.org\/w\/index.php?title=Special:CiteThisPage&page=Percentage_in_point&id=1298907296&wpFormIdentifier=titleform \"Information on how to cite this page\")\n- [Get shortened URL](https:\/\/en.wikipedia.org\/w\/index.php?title=Special:UrlShortener&url=https%3A%2F%2Fen.wikipedia.org%2Fwiki%2FPercentage_in_point)\n\nPrint\/export\n\n- [Download as PDF](https:\/\/en.wikipedia.org\/w\/index.php?title=Special:DownloadAsPdf&page=Percentage_in_point&action=show-download-screen \"Download this page as a PDF file\")\n- [Printable version](https:\/\/en.wikipedia.org\/w\/index.php?title=Percentage_in_point&printable=yes \"Printable version of this page [p]\")\n\nIn other projects\n\n- [Wikidata item](https:\/\/www.wikidata.org\/wiki\/Special:EntityPage\/Q1628727 \"Structured data on this page hosted by Wikidata [g]\")\n\nAppearance\n\nmove to sidebar\n\nhide\n\nFrom Wikipedia, the free encyclopedia\n\nCurrency exchange rate fluctuation\n\nThis article is about the unit of change in an exchange rate. For the countable items, see [Pip (counting)](https:\/\/en.wikipedia.org\/wiki\/Pip_\$counting\$ \"Pip (counting)\").\n\nIn [foreign exchange markets](https:\/\/en.wikipedia.org\/wiki\/Foreign_exchange_market \"Foreign exchange market\") (forex), a **percentage in point** (**pip**) is a unit of change in an [exchange rate](https:\/\/en.wikipedia.org\/wiki\/Exchange_rate \"Exchange rate\") of a [currency pair](https:\/\/en.wikipedia.org\/wiki\/Currency_pair \"Currency pair\"). A pip is the smallest whole unit price move that an exchange rate can make, based on forex market convention.[\\[1\\]](https:\/\/en.wikipedia.org\/wiki\/Percentage_in_point#cite_note-1)\n\nIt's important because forex trading involves tiny fluctuations in exchange rates, and Pips provides a standardized way to express these changes. By using Pip, traders can easily understand and discuss price movements, and calculate profits and losses, and manage risks more effectively.[\\[2\\]](https:\/\/en.wikipedia.org\/wiki\/Percentage_in_point#cite_note-2)\n\nThe major currencies (except the [Japanese yen](https:\/\/en.wikipedia.org\/wiki\/Japanese_yen \"Japanese yen\")) are traditionally priced to four [decimal](https:\/\/en.wikipedia.org\/wiki\/Decimal \"Decimal\") places, and a pip is one unit of the fourth decimal place: for dollar currencies this is to 1⁄100 of a [cent](https:\/\/en.wikipedia.org\/wiki\/Cent_\$currency\$ \"Cent (currency)\"). For the yen, a pip is one unit of the second decimal place, because the yen is much closer in value to one-hundredth of other major currencies.[\\[3\\]](https:\/\/en.wikipedia.org\/wiki\/Percentage_in_point#cite_note-3)\n\nIn the forward foreign exchange market, the time value adjustment made to the spot rate is quoted in pips, or FX points or forward points.[\\[4\\]](https:\/\/en.wikipedia.org\/wiki\/Percentage_in_point#cite_note-4)\n\nA pip is sometimes confused with the smallest unit of change in a quote, i.e. the [tick size](https:\/\/en.wikipedia.org\/wiki\/Tick_size \"Tick size\"). Currency pairs are often quoted to four decimal places, but the tick size in a given market may be, for example, 5 pips or 1⁄2 pip.\n\n## Example\n\\[[edit](https:\/\/en.wikipedia.org\/w\/index.php?title=Percentage_in_point&action=edit&section=1 \"Edit section: Example\")\\]\n\nIf the currency pair of the [Euro](https:\/\/en.wikipedia.org\/wiki\/Euro \"Euro\") and the [U.S. Dollar](https:\/\/en.wikipedia.org\/wiki\/U.S._Dollar \"U.S. Dollar\") (EUR\/USD) is trading at an exchange rate of 1.3000 (€1 = US\\$1.3) and the rate changes to 1.3010, the price ratio increases by 10 pips.\n\nIn this example, if a trader buys 5 standard lots (i.e. 5 × 100,000 = 500,000) of EUR\/USD, paying US\\$650,000 and closes the position after the 10 pips' appreciation, the trader will receive US\\$650,500 with a profit of US\\$500 (i.e. 500,000 (5 standard lots) × 0.0010 = US\\$500). Most retail trading by speculators is conducted in [margin accounts](https:\/\/en.wikipedia.org\/wiki\/Margin_account \"Margin account\"), requiring only a small percentage (typically 1%) of the purchase price as [equity](https:\/\/en.wikipedia.org\/wiki\/Equity_\$finance\$ \"Equity (finance)\") for the transaction. The Japanese Yen is an exception to this rule because of its worth against the US dollar being 0.01.[\\[5\\]](https:\/\/en.wikipedia.org\/wiki\/Percentage_in_point#cite_note-5)\n\nIf the NZD\/USD spot is trading at 0.8325 and the NZD\/USD 1-year forward contract is traded at −270 pips, the outright 1-year forward is priced at 0.8055 (= 0.8325 − 0.0270).\n\n## Fractional pips\n\\[[edit](https:\/\/en.wikipedia.org\/w\/index.php?title=Percentage_in_point&action=edit&section=2 \"Edit section: Fractional pips\")\\]\n\n[Electronic trading platforms](https:\/\/en.wikipedia.org\/wiki\/Electronic_trading_platform \"Electronic trading platform\") have brought greater price transparency and price competition to the foreign exchange markets.[\\[6\\]](https:\/\/en.wikipedia.org\/wiki\/Percentage_in_point#cite_note-6) Several trading platforms have extended the quote precision, or \"[tick size](https:\/\/en.wikipedia.org\/wiki\/Tick_size \"Tick size\")\", for most of the major currency pairs by an additional decimal point; the rates are displayed in 1⁄10 pip.\n\n## Table of pip values\n\\[[edit](https:\/\/en.wikipedia.org\/w\/index.php?title=Percentage_in_point&action=edit&section=3 \"Edit section: Table of pip values\")\\]\n\nThe table portrays pip values for selected currencies as used by Fenics MD[\\[7\\]](https:\/\/en.wikipedia.org\/wiki\/Percentage_in_point#cite_note-7) for their forward contracts or non-deliverable forwards.\n\n| Currency | Pip value |\n|---|---|\n| EURUSD | [US\\$](https:\/\/en.wikipedia.org\/wiki\/United_States_dollar \"United States dollar\")0\\.0001 |\n| GBPUSD | [US\\$](https:\/\/en.wikipedia.org\/wiki\/United_States_dollar \"United States dollar\")0\\.0001 |\n| USDJPY | [¥](https:\/\/en.wikipedia.org\/wiki\/Japanese_yen \"Japanese yen\")0\\.01 |\n| USDCAD | [CA\\$](https:\/\/en.wikipedia.org\/wiki\/Canadian_dollar \"Canadian dollar\")0\\.0001 |\n| AUDUSD | [US\\$](https:\/\/en.wikipedia.org\/wiki\/United_States_dollar \"United States dollar\")0\\.0001 |\n| USDCHF | [SFr](https:\/\/en.wikipedia.org\/wiki\/Swiss_franc \"Swiss franc\") 0.0001 |\n| NZDUSD | [US\\$](https:\/\/en.wikipedia.org\/wiki\/United_States_dollar \"United States dollar\")0\\.0001 |\n| USDDKK | 0\\.0001 [kr.](https:\/\/en.wikipedia.org\/wiki\/Danish_krone \"Danish krone\") |\n| USDSEK | 0\\.0001 [kr](https:\/\/en.wikipedia.org\/wiki\/Swedish_krona \"Swedish krona\") |\n| USDNOK | 0\\.0001 [kr](https:\/\/en.wikipedia.org\/wiki\/Norwegian_krone \"Norwegian krone\") |\n| USDHKD | [HK\\$](https:\/\/en.wikipedia.org\/wiki\/Hong_Kong_dollar \"Hong Kong dollar\")0\\.0001 |\n| USDBRL | [R\\$](https:\/\/en.wikipedia.org\/wiki\/Brazilian_real \"Brazilian real\")0\\.0001 |\n\n## See also\n\\[[edit](https:\/\/en.wikipedia.org\/w\/index.php?title=Percentage_in_point&action=edit&section=4 \"Edit section: See also\")\\]\n\n- [Basis point](https:\/\/en.wikipedia.org\/wiki\/Basis_point \"Basis point\") – One hundredth of one percentage point\n- [Pip (counting)](https:\/\/en.wikipedia.org\/wiki\/Pip_\$counting\$ \"Pip (counting)\") – Easily countable items\n\n## References\n\\[[edit](https:\/\/en.wikipedia.org\/w\/index.php?title=Percentage_in_point&action=edit&section=5 \"Edit section: References\")\\]\n\n1. **[^](https:\/\/en.wikipedia.org\/wiki\/Percentage_in_point#cite_ref-1)**\n   [\"What Are Pips in Forex Trading and What Is Their Value?\"](https:\/\/www.investopedia.com\/terms\/p\/pip.asp). Retrieved 24 July 2023.\n2. **[^](https:\/\/en.wikipedia.org\/wiki\/Percentage_in_point#cite_ref-2)**\n   [\"Forex Position Size Calculator - Manage Your FX Risk \\| Trading Calculator \\| FX News Radar\"](https:\/\/www.fxnewsradar.live\/forex-position-size-calculator). *www.fxnewsradar.live*. Retrieved 2025-07-05.\n3. **[^](https:\/\/en.wikipedia.org\/wiki\/Percentage_in_point#cite_ref-3)**\n   Abdulla, Mouhamed (March 2014). [Understanding Pip Movement in FOREX Trading](https:\/\/web.archive.org\/web\/20200331141930\/http:\/\/drmoe.org\/misc\/ForexPip.pdf) (PDF) (Report). Archived from [the original](http:\/\/drmoe.org\/misc\/ForexPip.pdf) (PDF) on 2020-03-31. Retrieved 2014-03-26.\n4. **[^](https:\/\/en.wikipedia.org\/wiki\/Percentage_in_point#cite_ref-4)**\n   [\"Calculating fx forward points\"](https:\/\/www.hedgebookpro.com\/blog\/calculating-fx-forward-points\/). Retrieved 11 December 2019.\n5. **[^](https:\/\/en.wikipedia.org\/wiki\/Percentage_in_point#cite_ref-5)**\n   [\"Home\"](https:\/\/web.archive.org\/web\/20171101002856\/https:\/\/www.referralforex.com\/). *referralforex.com*. Archived from [the original](https:\/\/www.referralforex.com\/) on 2017-11-01. Retrieved 2017-11-17.\n6. **[^](https:\/\/en.wikipedia.org\/wiki\/Percentage_in_point#cite_ref-6)**\n   [\"Pips and Spreads Explained - Forex Trading Basics\"](http:\/\/www.forexbrokersreviews.com\/trading-academy\/pips-and-spreads\/). *www.forexbrokersreviews.com*. Retrieved 2017-04-04.\n7. **[^](https:\/\/en.wikipedia.org\/wiki\/Percentage_in_point#cite_ref-7)**\n   [\"Fenics MD » RATES\"](http:\/\/www.fenicsmd.com\/products\/rates\/). *Fenics MD*. Retrieved 16 March 2020.\n\n![](https:\/\/en.wikipedia.org\/wiki\/Special:CentralAutoLogin\/start?useformat=desktop&type=1x1&usesul3=1)\n\nRetrieved from \"<https:\/\/en.wikipedia.org\/w\/index.php?title=Percentage_in_point&oldid=1298907296>\"\n\n[Category](https:\/\/en.wikipedia.org\/wiki\/Help:Category \"Help:Category\"):\n\n- [Foreign exchange market](https:\/\/en.wikipedia.org\/wiki\/Category:Foreign_exchange_market \"Category:Foreign exchange market\")\n\nHidden categories:\n\n- [Articles with short description](https:\/\/en.wikipedia.org\/wiki\/Category:Articles_with_short_description \"Category:Articles with short description\")\n- [Short description matches Wikidata](https:\/\/en.wikipedia.org\/wiki\/Category:Short_description_matches_Wikidata \"Category:Short description matches Wikidata\")\n\n- This page was last edited on 5 July 2025, at 13:50 (UTC).\n- Text is available under the [Creative Commons Attribution-ShareAlike 4.0 License](https:\/\/en.wikipedia.org\/wiki\/Wikipedia:Text_of_the_Creative_Commons_Attribution-ShareAlike_4.0_International_License \"Wikipedia:Text of the Creative Commons Attribution-ShareAlike 4.0 International License\"); additional terms may apply. By using this site, you agree to the [Terms of Use](https:\/\/foundation.wikimedia.org\/wiki\/Special:MyLanguage\/Policy:Terms_of_Use \"foundation:Special:MyLanguage\/Policy:Terms of Use\") and [Privacy Policy](https:\/\/foundation.wikimedia.org\/wiki\/Special:MyLanguage\/Policy:Privacy_policy \"foundation:Special:MyLanguage\/Policy:Privacy policy\"). Wikipedia® is a registered trademark of the [Wikimedia Foundation, Inc.](https:\/\/wikimediafoundation.org\/), a non-profit organization.\n\n- [Privacy policy](https:\/\/foundation.wikimedia.org\/wiki\/Special:MyLanguage\/Policy:Privacy_policy)\n- [About Wikipedia](https:\/\/en.wikipedia.org\/wiki\/Wikipedia:About)\n- [Disclaimers](https:\/\/en.wikipedia.org\/wiki\/Wikipedia:General_disclaimer)\n- [Contact Wikipedia](https:\/\/en.wikipedia.org\/wiki\/Wikipedia:Contact_us)\n- [Legal & safety contacts](https:\/\/foundation.wikimedia.org\/wiki\/Special:MyLanguage\/Legal:Wikimedia_Foundation_Legal_and_Safety_Contact_Information)\n- [Code of Conduct](https:\/\/foundation.wikimedia.org\/wiki\/Special:MyLanguage\/Policy:Universal_Code_of_Conduct)\n- [Developers](https:\/\/developer.wikimedia.org\/)\n- [Statistics](https:\/\/stats.wikimedia.org\/#\/en.wikipedia.org)\n- [Cookie statement](https:\/\/foundation.wikimedia.org\/wiki\/Special:MyLanguage\/Policy:Cookie_statement)\n- [Mobile view](https:\/\/en.wikipedia.org\/w\/index.php?title=Percentage_in_point&mobileaction=toggle_view_mobile)\n\n- [![Wikimedia Foundation](https:\/\/en.wikipedia.org\/static\/images\/footer\/wikimedia.svg)](https:\/\/www.wikimedia.org\/)\n- [![Powered by MediaWiki](https:\/\/en.wikipedia.org\/w\/resources\/assets\/mediawiki_compact.svg)](https:\/\/www.mediawiki.org\/)\n\nSearch\n\nToggle the table of contents\n\nPercentage in point\n\n8 languages\n\n[Add topic](https:\/\/en.wikipedia.org\/wiki\/Percentage_in_point)","attrs_readable_markdown":"From Wikipedia, the free encyclopedia\n\nThis article is about the unit of change in an exchange rate. For the countable items, see [Pip (counting)](https:\/\/en.wikipedia.org\/wiki\/Pip_\$counting\$ \"Pip (counting)\").\n\nIn [foreign exchange markets](https:\/\/en.wikipedia.org\/wiki\/Foreign_exchange_market \"Foreign exchange market\") (forex), a **percentage in point** (**pip**) is a unit of change in an [exchange rate](https:\/\/en.wikipedia.org\/wiki\/Exchange_rate \"Exchange rate\") of a [currency pair](https:\/\/en.wikipedia.org\/wiki\/Currency_pair \"Currency pair\"). A pip is the smallest whole unit price move that an exchange rate can make, based on forex market convention.[\\[1\\]](https:\/\/en.wikipedia.org\/wiki\/Percentage_in_point#cite_note-1)\n\nIt's important because forex trading involves tiny fluctuations in exchange rates, and Pips provides a standardized way to express these changes. By using Pip, traders can easily understand and discuss price movements, and calculate profits and losses, and manage risks more effectively.[\\[2\\]](https:\/\/en.wikipedia.org\/wiki\/Percentage_in_point#cite_note-2)\n\nThe major currencies (except the [Japanese yen](https:\/\/en.wikipedia.org\/wiki\/Japanese_yen \"Japanese yen\")) are traditionally priced to four [decimal](https:\/\/en.wikipedia.org\/wiki\/Decimal \"Decimal\") places, and a pip is one unit of the fourth decimal place: for dollar currencies this is to 1⁄100 of a [cent](https:\/\/en.wikipedia.org\/wiki\/Cent_\$currency\$ \"Cent (currency)\"). For the yen, a pip is one unit of the second decimal place, because the yen is much closer in value to one-hundredth of other major currencies.[\\[3\\]](https:\/\/en.wikipedia.org\/wiki\/Percentage_in_point#cite_note-3)\n\nIn the forward foreign exchange market, the time value adjustment made to the spot rate is quoted in pips, or FX points or forward points.[\\[4\\]](https:\/\/en.wikipedia.org\/wiki\/Percentage_in_point#cite_note-4)\n\nA pip is sometimes confused with the smallest unit of change in a quote, i.e. the [tick size](https:\/\/en.wikipedia.org\/wiki\/Tick_size \"Tick size\"). Currency pairs are often quoted to four decimal places, but the tick size in a given market may be, for example, 5 pips or 1⁄2 pip.\n\nIf the currency pair of the [Euro](https:\/\/en.wikipedia.org\/wiki\/Euro \"Euro\") and the [U.S. Dollar](https:\/\/en.wikipedia.org\/wiki\/U.S._Dollar \"U.S. Dollar\") (EUR\/USD) is trading at an exchange rate of 1.3000 (€1 = US\\$1.3) and the rate changes to 1.3010, the price ratio increases by 10 pips.\n\nIn this example, if a trader buys 5 standard lots (i.e. 5 × 100,000 = 500,000) of EUR\/USD, paying US\\$650,000 and closes the position after the 10 pips' appreciation, the trader will receive US\\$650,500 with a profit of US\\$500 (i.e. 500,000 (5 standard lots) × 0.0010 = US\\$500). Most retail trading by speculators is conducted in [margin accounts](https:\/\/en.wikipedia.org\/wiki\/Margin_account \"Margin account\"), requiring only a small percentage (typically 1%) of the purchase price as [equity](https:\/\/en.wikipedia.org\/wiki\/Equity_\$finance\$ \"Equity (finance)\") for the transaction. The Japanese Yen is an exception to this rule because of its worth against the US dollar being 0.01.[\\[5\\]](https:\/\/en.wikipedia.org\/wiki\/Percentage_in_point#cite_note-5)\n\nIf the NZD\/USD spot is trading at 0.8325 and the NZD\/USD 1-year forward contract is traded at −270 pips, the outright 1-year forward is priced at 0.8055 (= 0.8325 − 0.0270).\n\n[Electronic trading platforms](https:\/\/en.wikipedia.org\/wiki\/Electronic_trading_platform \"Electronic trading platform\") have brought greater price transparency and price competition to the foreign exchange markets.[\\[6\\]](https:\/\/en.wikipedia.org\/wiki\/Percentage_in_point#cite_note-6) Several trading platforms have extended the quote precision, or \"[tick size](https:\/\/en.wikipedia.org\/wiki\/Tick_size \"Tick size\")\", for most of the major currency pairs by an additional decimal point; the rates are displayed in 1⁄10 pip.\n\n## Table of pip values\n\\[[edit](https:\/\/en.wikipedia.org\/w\/index.php?title=Percentage_in_point&action=edit&section=3 \"Edit section: Table of pip values\")\\]\n\nThe table portrays pip values for selected currencies as used by Fenics MD[\\[7\\]](https:\/\/en.wikipedia.org\/wiki\/Percentage_in_point#cite_note-7) for their forward contracts or non-deliverable forwards.\n\n| Currency | Pip value |\n|---|---|\n| EURUSD | [US\\$](https:\/\/en.wikipedia.org\/wiki\/United_States_dollar \"United States dollar\")0\\.0001 |\n| GBPUSD | [US\\$](https:\/\/en.wikipedia.org\/wiki\/United_States_dollar \"United States dollar\")0\\.0001 |\n| USDJPY | [¥](https:\/\/en.wikipedia.org\/wiki\/Japanese_yen \"Japanese yen\")0\\.01 |\n| USDCAD | [CA\\$](https:\/\/en.wikipedia.org\/wiki\/Canadian_dollar \"Canadian dollar\")0\\.0001 |\n| AUDUSD | [US\\$](https:\/\/en.wikipedia.org\/wiki\/United_States_dollar \"United States dollar\")0\\.0001 |\n| USDCHF | [SFr](https:\/\/en.wikipedia.org\/wiki\/Swiss_franc \"Swiss franc\") 0.0001 |\n| NZDUSD | [US\\$](https:\/\/en.wikipedia.org\/wiki\/United_States_dollar \"United States dollar\")0\\.0001 |\n| USDDKK | 0\\.0001 [kr.](https:\/\/en.wikipedia.org\/wiki\/Danish_krone \"Danish krone\") |\n| USDSEK | 0\\.0001 [kr](https:\/\/en.wikipedia.org\/wiki\/Swedish_krona \"Swedish krona\") |\n| USDNOK | 0\\.0001 [kr](https:\/\/en.wikipedia.org\/wiki\/Norwegian_krone \"Norwegian krone\") |\n| USDHKD | [HK\\$](https:\/\/en.wikipedia.org\/wiki\/Hong_Kong_dollar \"Hong Kong dollar\")0\\.0001 |\n| USDBRL | [R\\$](https:\/\/en.wikipedia.org\/wiki\/Brazilian_real \"Brazilian real\")0\\.0001 |\n\n- [Basis point](https:\/\/en.wikipedia.org\/wiki\/Basis_point \"Basis point\") – One hundredth of one percentage point\n- [Pip (counting)](https:\/\/en.wikipedia.org\/wiki\/Pip_\$counting\$ \"Pip (counting)\") – Easily countable items\n\n1. **[^](https:\/\/en.wikipedia.org\/wiki\/Percentage_in_point#cite_ref-1)**\n   [\"What Are Pips in Forex Trading and What Is Their Value?\"](https:\/\/www.investopedia.com\/terms\/p\/pip.asp). Retrieved 24 July 2023.\n2. **[^](https:\/\/en.wikipedia.org\/wiki\/Percentage_in_point#cite_ref-2)**\n   [\"Forex Position Size Calculator - Manage Your FX Risk \\| Trading Calculator \\| FX News Radar\"](https:\/\/www.fxnewsradar.live\/forex-position-size-calculator). *www.fxnewsradar.live*. Retrieved 2025-07-05.\n3. **[^](https:\/\/en.wikipedia.org\/wiki\/Percentage_in_point#cite_ref-3)**\n   Abdulla, Mouhamed (March 2014). [Understanding Pip Movement in FOREX Trading](https:\/\/web.archive.org\/web\/20200331141930\/http:\/\/drmoe.org\/misc\/ForexPip.pdf) (PDF) (Report). Archived from [the original](http:\/\/drmoe.org\/misc\/ForexPip.pdf) (PDF) on 2020-03-31. Retrieved 2014-03-26.\n4. **[^](https:\/\/en.wikipedia.org\/wiki\/Percentage_in_point#cite_ref-4)**\n   [\"Calculating fx forward points\"](https:\/\/www.hedgebookpro.com\/blog\/calculating-fx-forward-points\/). Retrieved 11 December 2019.\n5. **[^](https:\/\/en.wikipedia.org\/wiki\/Percentage_in_point#cite_ref-5)**\n   [\"Home\"](https:\/\/web.archive.org\/web\/20171101002856\/https:\/\/www.referralforex.com\/). *referralforex.com*. Archived from [the original](https:\/\/www.referralforex.com\/) on 2017-11-01. Retrieved 2017-11-17.\n6. **[^](https:\/\/en.wikipedia.org\/wiki\/Percentage_in_point#cite_ref-6)**\n   [\"Pips and Spreads Explained - Forex Trading Basics\"](http:\/\/www.forexbrokersreviews.com\/trading-academy\/pips-and-spreads\/). *www.forexbrokersreviews.com*. Retrieved 2017-04-04.\n7. **[^](https:\/\/en.wikipedia.org\/wiki\/Percentage_in_point#cite_ref-7)**\n   [\"Fenics MD » RATES\"](http:\/\/www.fenicsmd.com\/products\/rates\/). *Fenics MD*. Retrieved 16 March 2020.","meta_canonical":null}

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Boilerpipe Text	From Wikipedia, the free encyclopedia This article is about the unit of change in an exchange rate. For the countable items, see Pip (counting) . In foreign exchange markets (forex), a percentage in point ( pip ) is a unit of change in an exchange rate of a currency pair . A pip is the smallest whole unit price move that an exchange rate can make, based on forex market convention. [ 1 ] It's important because forex trading involves tiny fluctuations in exchange rates, and Pips provides a standardized way to express these changes. By using Pip, traders can easily understand and discuss price movements, and calculate profits and losses, and manage risks more effectively. [ 2 ] The major currencies (except the Japanese yen ) are traditionally priced to four decimal places, and a pip is one unit of the fourth decimal place: for dollar currencies this is to 1 ⁄ 100 of a cent . For the yen, a pip is one unit of the second decimal place, because the yen is much closer in value to one-hundredth of other major currencies. [ 3 ] In the forward foreign exchange market, the time value adjustment made to the spot rate is quoted in pips, or FX points or forward points. [ 4 ] A pip is sometimes confused with the smallest unit of change in a quote, i.e. the tick size . Currency pairs are often quoted to four decimal places, but the tick size in a given market may be, for example, 5 pips or 1 ⁄ 2 pip. If the currency pair of the Euro and the U.S. Dollar (EUR/USD) is trading at an exchange rate of 1.3000 ( €1 = US$1.3 ) and the rate changes to 1.3010, the price ratio increases by 10 pips. In this example, if a trader buys 5 standard lots (i.e. 5 × 100,000 = 500,000) of EUR/USD, paying US$650,000 and closes the position after the 10 pips' appreciation, the trader will receive US$650,500 with a profit of US$500 (i.e. 500,000 (5 standard lots) × 0.0010 = US$500 ). Most retail trading by speculators is conducted in margin accounts , requiring only a small percentage (typically 1%) of the purchase price as equity for the transaction. The Japanese Yen is an exception to this rule because of its worth against the US dollar being 0.01. [ 5 ] If the NZD/USD spot is trading at 0.8325 and the NZD/USD 1-year forward contract is traded at −270 pips, the outright 1-year forward is priced at 0.8055 (= 0.8325 − 0.0270). Electronic trading platforms have brought greater price transparency and price competition to the foreign exchange markets. [ 6 ] Several trading platforms have extended the quote precision, or " tick size ", for most of the major currency pairs by an additional decimal point; the rates are displayed in 1 ⁄ 10 pip. Table of pip values [ edit ] The table portrays pip values for selected currencies as used by Fenics MD [ 7 ] for their forward contracts or non-deliverable forwards. Currency Pip value EURUSD US$ 0.0001 GBPUSD US$ 0.0001 USDJPY ¥ 0.01 USDCAD CA$ 0.0001 AUDUSD US$ 0.0001 USDCHF SFr 0.0001 NZDUSD US$ 0.0001 USDDKK 0.0001 kr. USDSEK 0.0001 kr USDNOK 0.0001 kr USDHKD HK$ 0.0001 USDBRL R$ 0.0001 Basis point – One hundredth of one percentage point Pip (counting) – Easily countable items ^ "What Are Pips in Forex Trading and What Is Their Value?" . Retrieved 24 July 2023 . ^ "Forex Position Size Calculator - Manage Your FX Risk \| Trading Calculator \| FX News Radar" . www.fxnewsradar.live . Retrieved 2025-07-05 . ^ Abdulla, Mouhamed (March 2014). Understanding Pip Movement in FOREX Trading (PDF) (Report). Archived from the original (PDF) on 2020-03-31 . Retrieved 2014-03-26 . ^ "Calculating fx forward points" . Retrieved 11 December 2019 . ^ "Home" . referralforex.com . Archived from the original on 2017-11-01 . Retrieved 2017-11-17 . ^ "Pips and Spreads Explained - Forex Trading Basics" . www.forexbrokersreviews.com . Retrieved 2017-04-04 . ^ "Fenics MD » RATES" . Fenics MD . Retrieved 16 March 2020 .
Markdown	[Jump to content](https://en.wikipedia.org/wiki/Percentage_in_point#bodyContent) Main menu Main menu move to sidebar hide Navigation - [Main page](https://en.wikipedia.org/wiki/Main_Page "Visit the main page [z]") - [Contents](https://en.wikipedia.org/wiki/Wikipedia:Contents "Guides to browsing Wikipedia") - [Current events](https://en.wikipedia.org/wiki/Portal:Current_events "Articles related to current events") - [Random article](https://en.wikipedia.org/wiki/Special:Random "Visit a randomly selected article [x]") - [About Wikipedia](https://en.wikipedia.org/wiki/Wikipedia:About "Learn about Wikipedia and how it works") - [Contact us](https://en.wikipedia.org/wiki/Wikipedia:Contact_us "How to contact Wikipedia") Contribute - [Help](https://en.wikipedia.org/wiki/Help:Contents "Guidance on how to use and edit Wikipedia") - [Learn to edit](https://en.wikipedia.org/wiki/Help:Introduction "Learn how to edit Wikipedia") - [Community portal](https://en.wikipedia.org/wiki/Wikipedia:Community_portal "The hub for editors") - [Recent changes](https://en.wikipedia.org/wiki/Special:RecentChanges "A list of recent changes to Wikipedia [r]") - [Upload file](https://en.wikipedia.org/wiki/Wikipedia:File_upload_wizard "Add images or other media for use on Wikipedia") - [Special pages](https://en.wikipedia.org/wiki/Special:SpecialPages "A list of all special pages [q]") [![](https://en.wikipedia.org/static/images/icons/enwiki-25.svg) ![Wikipedia](https://en.wikipedia.org/static/images/mobile/copyright/wikipedia-wordmark-en-25.svg) ![The Free Encyclopedia](https://en.wikipedia.org/static/images/mobile/copyright/wikipedia-tagline-en-25.svg)](https://en.wikipedia.org/wiki/Main_Page) [Search](https://en.wikipedia.org/wiki/Special:Search "Search Wikipedia [f]") Appearance - [Donate](https://donate.wikimedia.org/?wmf_source=donate&wmf_medium=sidebar&wmf_campaign=en.wikipedia.org&uselang=en) - [Create account](https://en.wikipedia.org/w/index.php?title=Special:CreateAccount&returnto=Percentage+in+point "You are encouraged to create an account and log in; however, it is not mandatory") - [Log in](https://en.wikipedia.org/w/index.php?title=Special:UserLogin&returnto=Percentage+in+point "You're encouraged to log in; however, it's not mandatory. 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[o]") ## Contents move to sidebar hide - [(Top)](https://en.wikipedia.org/wiki/Percentage_in_point) - [1 Example](https://en.wikipedia.org/wiki/Percentage_in_point#Example) - [2 Fractional pips](https://en.wikipedia.org/wiki/Percentage_in_point#Fractional_pips) - [3 Table of pip values](https://en.wikipedia.org/wiki/Percentage_in_point#Table_of_pip_values) - [4 See also](https://en.wikipedia.org/wiki/Percentage_in_point#See_also) - [5 References](https://en.wikipedia.org/wiki/Percentage_in_point#References) Toggle the table of contents # Percentage in point 8 languages - [Deutsch](https://de.wikipedia.org/wiki/Pip_$Forex$ "Pip (Forex) – German") - [Español](https://es.wikipedia.org/wiki/Porcentaje_en_puntos "Porcentaje en puntos – Spanish") - [فارسی](https://fa.wikipedia.org/wiki/%D8%AF%D8%B1%D8%B5%D8%AF_%D8%AA%D8%BA%DB%8C%DB%8C%D8%B1_%D8%A7%D8%B1%D8%B2%D8%B4_%D8%AF%D8%A7%D8%B1%D8%A7%DB%8C%DB%8C "درصد تغییر ارزش دارایی – Persian") - [Français](https://fr.wikipedia.org/wiki/Percentage_in_point "Percentage in point – French") - [Polski](https://pl.wikipedia.org/wiki/Percentage_in_point "Percentage in point – Polish") - [Русский](https://ru.wikipedia.org/wiki/%D0%9F%D1%83%D0%BD%D0%BA%D1%82_$%D1%8D%D0%BA%D0%BE%D0%BD%D0%BE%D0%BC%D0%B8%D0%BA%D0%B0$ "Пункт (экономика) – Russian") - [Türkçe](https://tr.wikipedia.org/wiki/Percentage_in_point "Percentage in point – Turkish") - [Українська](https://uk.wikipedia.org/wiki/%D0%9F%D1%83%D0%BD%D0%BA%D1%82_$%D0%B5%D0%BA%D0%BE%D0%BD%D0%BE%D0%BC%D1%96%D0%BA%D0%B0$ "Пункт (економіка) – Ukrainian") [Edit links](https://www.wikidata.org/wiki/Special:EntityPage/Q1628727#sitelinks-wikipedia "Edit interlanguage links") - [Article](https://en.wikipedia.org/wiki/Percentage_in_point "View the content page [c]") - [Talk](https://en.wikipedia.org/wiki/Talk:Percentage_in_point "Discuss improvements to the content page [t]") English - [Read](https://en.wikipedia.org/wiki/Percentage_in_point) - [Edit](https://en.wikipedia.org/w/index.php?title=Percentage_in_point&action=edit "Edit this page [e]") - [View history](https://en.wikipedia.org/w/index.php?title=Percentage_in_point&action=history "Past revisions of this page [h]") Tools Tools move to sidebar hide Actions - [Read](https://en.wikipedia.org/wiki/Percentage_in_point) - [Edit](https://en.wikipedia.org/w/index.php?title=Percentage_in_point&action=edit "Edit this page [e]") - [View history](https://en.wikipedia.org/w/index.php?title=Percentage_in_point&action=history) General - [What links here](https://en.wikipedia.org/wiki/Special:WhatLinksHere/Percentage_in_point "List of all English Wikipedia pages containing links to this page [j]") - [Related changes](https://en.wikipedia.org/wiki/Special:RecentChangesLinked/Percentage_in_point "Recent changes in pages linked from this page [k]") - [Upload file](https://en.wikipedia.org/wiki/Wikipedia:File_Upload_Wizard "Upload files [u]") - [Permanent link](https://en.wikipedia.org/w/index.php?title=Percentage_in_point&oldid=1298907296 "Permanent link to this revision of this page") - [Page information](https://en.wikipedia.org/w/index.php?title=Percentage_in_point&action=info "More information about this page") - [Cite this page](https://en.wikipedia.org/w/index.php?title=Special:CiteThisPage&page=Percentage_in_point&id=1298907296&wpFormIdentifier=titleform "Information on how to cite this page") - [Get shortened URL](https://en.wikipedia.org/w/index.php?title=Special:UrlShortener&url=https%3A%2F%2Fen.wikipedia.org%2Fwiki%2FPercentage_in_point) Print/export - [Download as PDF](https://en.wikipedia.org/w/index.php?title=Special:DownloadAsPdf&page=Percentage_in_point&action=show-download-screen "Download this page as a PDF file") - [Printable version](https://en.wikipedia.org/w/index.php?title=Percentage_in_point&printable=yes "Printable version of this page [p]") In other projects - [Wikidata item](https://www.wikidata.org/wiki/Special:EntityPage/Q1628727 "Structured data on this page hosted by Wikidata [g]") Appearance move to sidebar hide From Wikipedia, the free encyclopedia Currency exchange rate fluctuation This article is about the unit of change in an exchange rate. For the countable items, see [Pip (counting)](https://en.wikipedia.org/wiki/Pip_$counting$ "Pip (counting)"). In [foreign exchange markets](https://en.wikipedia.org/wiki/Foreign_exchange_market "Foreign exchange market") (forex), a percentage in point (pip) is a unit of change in an [exchange rate](https://en.wikipedia.org/wiki/Exchange_rate "Exchange rate") of a [currency pair](https://en.wikipedia.org/wiki/Currency_pair "Currency pair"). A pip is the smallest whole unit price move that an exchange rate can make, based on forex market convention.[\[1\]](https://en.wikipedia.org/wiki/Percentage_in_point#cite_note-1) It's important because forex trading involves tiny fluctuations in exchange rates, and Pips provides a standardized way to express these changes. By using Pip, traders can easily understand and discuss price movements, and calculate profits and losses, and manage risks more effectively.[\[2\]](https://en.wikipedia.org/wiki/Percentage_in_point#cite_note-2) The major currencies (except the [Japanese yen](https://en.wikipedia.org/wiki/Japanese_yen "Japanese yen")) are traditionally priced to four [decimal](https://en.wikipedia.org/wiki/Decimal "Decimal") places, and a pip is one unit of the fourth decimal place: for dollar currencies this is to 1⁄100 of a [cent](https://en.wikipedia.org/wiki/Cent_$currency$ "Cent (currency)"). For the yen, a pip is one unit of the second decimal place, because the yen is much closer in value to one-hundredth of other major currencies.[\[3\]](https://en.wikipedia.org/wiki/Percentage_in_point#cite_note-3) In the forward foreign exchange market, the time value adjustment made to the spot rate is quoted in pips, or FX points or forward points.[\[4\]](https://en.wikipedia.org/wiki/Percentage_in_point#cite_note-4) A pip is sometimes confused with the smallest unit of change in a quote, i.e. the [tick size](https://en.wikipedia.org/wiki/Tick_size "Tick size"). Currency pairs are often quoted to four decimal places, but the tick size in a given market may be, for example, 5 pips or 1⁄2 pip. ## Example \[[edit](https://en.wikipedia.org/w/index.php?title=Percentage_in_point&action=edit&section=1 "Edit section: Example")\] If the currency pair of the [Euro](https://en.wikipedia.org/wiki/Euro "Euro") and the [U.S. Dollar](https://en.wikipedia.org/wiki/U.S._Dollar "U.S. Dollar") (EUR/USD) is trading at an exchange rate of 1.3000 (€1 = US\$1.3) and the rate changes to 1.3010, the price ratio increases by 10 pips. In this example, if a trader buys 5 standard lots (i.e. 5 × 100,000 = 500,000) of EUR/USD, paying US\$650,000 and closes the position after the 10 pips' appreciation, the trader will receive US\$650,500 with a profit of US\$500 (i.e. 500,000 (5 standard lots) × 0.0010 = US\$500). Most retail trading by speculators is conducted in [margin accounts](https://en.wikipedia.org/wiki/Margin_account "Margin account"), requiring only a small percentage (typically 1%) of the purchase price as [equity](https://en.wikipedia.org/wiki/Equity_$finance$ "Equity (finance)") for the transaction. The Japanese Yen is an exception to this rule because of its worth against the US dollar being 0.01.[\[5\]](https://en.wikipedia.org/wiki/Percentage_in_point#cite_note-5) If the NZD/USD spot is trading at 0.8325 and the NZD/USD 1-year forward contract is traded at −270 pips, the outright 1-year forward is priced at 0.8055 (= 0.8325 − 0.0270). ## Fractional pips \[[edit](https://en.wikipedia.org/w/index.php?title=Percentage_in_point&action=edit&section=2 "Edit section: Fractional pips")\] [Electronic trading platforms](https://en.wikipedia.org/wiki/Electronic_trading_platform "Electronic trading platform") have brought greater price transparency and price competition to the foreign exchange markets.[\[6\]](https://en.wikipedia.org/wiki/Percentage_in_point#cite_note-6) Several trading platforms have extended the quote precision, or "[tick size](https://en.wikipedia.org/wiki/Tick_size "Tick size")", for most of the major currency pairs by an additional decimal point; the rates are displayed in 1⁄10 pip. ## Table of pip values \[[edit](https://en.wikipedia.org/w/index.php?title=Percentage_in_point&action=edit&section=3 "Edit section: Table of pip values")\] The table portrays pip values for selected currencies as used by Fenics MD[\[7\]](https://en.wikipedia.org/wiki/Percentage_in_point#cite_note-7) for their forward contracts or non-deliverable forwards. \| Currency \| Pip value \| \|---\|---\| \| EURUSD \| [US\$](https://en.wikipedia.org/wiki/United_States_dollar "United States dollar")0\.0001 \| \| GBPUSD \| [US\$](https://en.wikipedia.org/wiki/United_States_dollar "United States dollar")0\.0001 \| \| USDJPY \| [¥](https://en.wikipedia.org/wiki/Japanese_yen "Japanese yen")0\.01 \| \| USDCAD \| [CA\$](https://en.wikipedia.org/wiki/Canadian_dollar "Canadian dollar")0\.0001 \| \| AUDUSD \| [US\$](https://en.wikipedia.org/wiki/United_States_dollar "United States dollar")0\.0001 \| \| USDCHF \| [SFr](https://en.wikipedia.org/wiki/Swiss_franc "Swiss franc") 0.0001 \| \| NZDUSD \| [US\$](https://en.wikipedia.org/wiki/United_States_dollar "United States dollar")0\.0001 \| \| USDDKK \| 0\.0001 [kr.](https://en.wikipedia.org/wiki/Danish_krone "Danish krone") \| \| USDSEK \| 0\.0001 [kr](https://en.wikipedia.org/wiki/Swedish_krona "Swedish krona") \| \| USDNOK \| 0\.0001 [kr](https://en.wikipedia.org/wiki/Norwegian_krone "Norwegian krone") \| \| USDHKD \| [HK\$](https://en.wikipedia.org/wiki/Hong_Kong_dollar "Hong Kong dollar")0\.0001 \| \| USDBRL \| [R\$](https://en.wikipedia.org/wiki/Brazilian_real "Brazilian real")0\.0001 \| ## See also \[[edit](https://en.wikipedia.org/w/index.php?title=Percentage_in_point&action=edit&section=4 "Edit section: See also")\] - [Basis point](https://en.wikipedia.org/wiki/Basis_point "Basis point") – One hundredth of one percentage point - [Pip (counting)](https://en.wikipedia.org/wiki/Pip_$counting$ "Pip (counting)") – Easily countable items ## References \[[edit](https://en.wikipedia.org/w/index.php?title=Percentage_in_point&action=edit&section=5 "Edit section: References")\] 1. [^](https://en.wikipedia.org/wiki/Percentage_in_point#cite_ref-1) ["What Are Pips in Forex Trading and What Is Their Value?"](https://www.investopedia.com/terms/p/pip.asp). Retrieved 24 July 2023. 2. [^](https://en.wikipedia.org/wiki/Percentage_in_point#cite_ref-2) ["Forex Position Size Calculator - Manage Your FX Risk \\| Trading Calculator \\| FX News Radar"](https://www.fxnewsradar.live/forex-position-size-calculator). www.fxnewsradar.live. Retrieved 2025-07-05. 3. [^](https://en.wikipedia.org/wiki/Percentage_in_point#cite_ref-3) Abdulla, Mouhamed (March 2014). [Understanding Pip Movement in FOREX Trading](https://web.archive.org/web/20200331141930/http://drmoe.org/misc/ForexPip.pdf) (PDF) (Report). Archived from [the original](http://drmoe.org/misc/ForexPip.pdf) (PDF) on 2020-03-31. Retrieved 2014-03-26. 4. [^](https://en.wikipedia.org/wiki/Percentage_in_point#cite_ref-4) ["Calculating fx forward points"](https://www.hedgebookpro.com/blog/calculating-fx-forward-points/). Retrieved 11 December 2019. 5. [^](https://en.wikipedia.org/wiki/Percentage_in_point#cite_ref-5) ["Home"](https://web.archive.org/web/20171101002856/https://www.referralforex.com/). referralforex.com. Archived from [the original](https://www.referralforex.com/) on 2017-11-01. Retrieved 2017-11-17. 6. [^](https://en.wikipedia.org/wiki/Percentage_in_point#cite_ref-6) ["Pips and Spreads Explained - Forex Trading Basics"](http://www.forexbrokersreviews.com/trading-academy/pips-and-spreads/). www.forexbrokersreviews.com. Retrieved 2017-04-04. 7. [^](https://en.wikipedia.org/wiki/Percentage_in_point#cite_ref-7) ["Fenics MD » RATES"](http://www.fenicsmd.com/products/rates/). Fenics MD. Retrieved 16 March 2020. ![](https://en.wikipedia.org/wiki/Special:CentralAutoLogin/start?useformat=desktop&type=1x1&usesul3=1) Retrieved from "<https://en.wikipedia.org/w/index.php?title=Percentage_in_point&oldid=1298907296>" [Category](https://en.wikipedia.org/wiki/Help:Category "Help:Category"): - [Foreign exchange market](https://en.wikipedia.org/wiki/Category:Foreign_exchange_market "Category:Foreign exchange market") Hidden categories: - [Articles with short description](https://en.wikipedia.org/wiki/Category:Articles_with_short_description "Category:Articles with short description") - [Short description matches Wikidata](https://en.wikipedia.org/wiki/Category:Short_description_matches_Wikidata "Category:Short description matches Wikidata") - This page was last edited on 5 July 2025, at 13:50 (UTC). - Text is available under the [Creative Commons Attribution-ShareAlike 4.0 License](https://en.wikipedia.org/wiki/Wikipedia:Text_of_the_Creative_Commons_Attribution-ShareAlike_4.0_International_License "Wikipedia:Text of the Creative Commons Attribution-ShareAlike 4.0 International License"); additional terms may apply. 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Readable Markdown	From Wikipedia, the free encyclopedia This article is about the unit of change in an exchange rate. For the countable items, see [Pip (counting)](https://en.wikipedia.org/wiki/Pip_$counting$ "Pip (counting)"). In [foreign exchange markets](https://en.wikipedia.org/wiki/Foreign_exchange_market "Foreign exchange market") (forex), a percentage in point (pip) is a unit of change in an [exchange rate](https://en.wikipedia.org/wiki/Exchange_rate "Exchange rate") of a [currency pair](https://en.wikipedia.org/wiki/Currency_pair "Currency pair"). A pip is the smallest whole unit price move that an exchange rate can make, based on forex market convention.[\[1\]](https://en.wikipedia.org/wiki/Percentage_in_point#cite_note-1) It's important because forex trading involves tiny fluctuations in exchange rates, and Pips provides a standardized way to express these changes. By using Pip, traders can easily understand and discuss price movements, and calculate profits and losses, and manage risks more effectively.[\[2\]](https://en.wikipedia.org/wiki/Percentage_in_point#cite_note-2) The major currencies (except the [Japanese yen](https://en.wikipedia.org/wiki/Japanese_yen "Japanese yen")) are traditionally priced to four [decimal](https://en.wikipedia.org/wiki/Decimal "Decimal") places, and a pip is one unit of the fourth decimal place: for dollar currencies this is to 1⁄100 of a [cent](https://en.wikipedia.org/wiki/Cent_$currency$ "Cent (currency)"). For the yen, a pip is one unit of the second decimal place, because the yen is much closer in value to one-hundredth of other major currencies.[\[3\]](https://en.wikipedia.org/wiki/Percentage_in_point#cite_note-3) In the forward foreign exchange market, the time value adjustment made to the spot rate is quoted in pips, or FX points or forward points.[\[4\]](https://en.wikipedia.org/wiki/Percentage_in_point#cite_note-4) A pip is sometimes confused with the smallest unit of change in a quote, i.e. the [tick size](https://en.wikipedia.org/wiki/Tick_size "Tick size"). Currency pairs are often quoted to four decimal places, but the tick size in a given market may be, for example, 5 pips or 1⁄2 pip. If the currency pair of the [Euro](https://en.wikipedia.org/wiki/Euro "Euro") and the [U.S. Dollar](https://en.wikipedia.org/wiki/U.S._Dollar "U.S. Dollar") (EUR/USD) is trading at an exchange rate of 1.3000 (€1 = US\$1.3) and the rate changes to 1.3010, the price ratio increases by 10 pips. In this example, if a trader buys 5 standard lots (i.e. 5 × 100,000 = 500,000) of EUR/USD, paying US\$650,000 and closes the position after the 10 pips' appreciation, the trader will receive US\$650,500 with a profit of US\$500 (i.e. 500,000 (5 standard lots) × 0.0010 = US\$500). Most retail trading by speculators is conducted in [margin accounts](https://en.wikipedia.org/wiki/Margin_account "Margin account"), requiring only a small percentage (typically 1%) of the purchase price as [equity](https://en.wikipedia.org/wiki/Equity_$finance$ "Equity (finance)") for the transaction. The Japanese Yen is an exception to this rule because of its worth against the US dollar being 0.01.[\[5\]](https://en.wikipedia.org/wiki/Percentage_in_point#cite_note-5) If the NZD/USD spot is trading at 0.8325 and the NZD/USD 1-year forward contract is traded at −270 pips, the outright 1-year forward is priced at 0.8055 (= 0.8325 − 0.0270). [Electronic trading platforms](https://en.wikipedia.org/wiki/Electronic_trading_platform "Electronic trading platform") have brought greater price transparency and price competition to the foreign exchange markets.[\[6\]](https://en.wikipedia.org/wiki/Percentage_in_point#cite_note-6) Several trading platforms have extended the quote precision, or "[tick size](https://en.wikipedia.org/wiki/Tick_size "Tick size")", for most of the major currency pairs by an additional decimal point; the rates are displayed in 1⁄10 pip. ## Table of pip values \[[edit](https://en.wikipedia.org/w/index.php?title=Percentage_in_point&action=edit&section=3 "Edit section: Table of pip values")\] The table portrays pip values for selected currencies as used by Fenics MD[\[7\]](https://en.wikipedia.org/wiki/Percentage_in_point#cite_note-7) for their forward contracts or non-deliverable forwards. \| Currency \| Pip value \| \|---\|---\| \| EURUSD \| [US\$](https://en.wikipedia.org/wiki/United_States_dollar "United States dollar")0\.0001 \| \| GBPUSD \| [US\$](https://en.wikipedia.org/wiki/United_States_dollar "United States dollar")0\.0001 \| \| USDJPY \| [¥](https://en.wikipedia.org/wiki/Japanese_yen "Japanese yen")0\.01 \| \| USDCAD \| [CA\$](https://en.wikipedia.org/wiki/Canadian_dollar "Canadian dollar")0\.0001 \| \| AUDUSD \| [US\$](https://en.wikipedia.org/wiki/United_States_dollar "United States dollar")0\.0001 \| \| USDCHF \| [SFr](https://en.wikipedia.org/wiki/Swiss_franc "Swiss franc") 0.0001 \| \| NZDUSD \| [US\$](https://en.wikipedia.org/wiki/United_States_dollar "United States dollar")0\.0001 \| \| USDDKK \| 0\.0001 [kr.](https://en.wikipedia.org/wiki/Danish_krone "Danish krone") \| \| USDSEK \| 0\.0001 [kr](https://en.wikipedia.org/wiki/Swedish_krona "Swedish krona") \| \| USDNOK \| 0\.0001 [kr](https://en.wikipedia.org/wiki/Norwegian_krone "Norwegian krone") \| \| USDHKD \| [HK\$](https://en.wikipedia.org/wiki/Hong_Kong_dollar "Hong Kong dollar")0\.0001 \| \| USDBRL \| [R\$](https://en.wikipedia.org/wiki/Brazilian_real "Brazilian real")0\.0001 \| - [Basis point](https://en.wikipedia.org/wiki/Basis_point "Basis point") – One hundredth of one percentage point - [Pip (counting)](https://en.wikipedia.org/wiki/Pip_$counting$ "Pip (counting)") – Easily countable items 1. [^](https://en.wikipedia.org/wiki/Percentage_in_point#cite_ref-1) ["What Are Pips in Forex Trading and What Is Their Value?"](https://www.investopedia.com/terms/p/pip.asp). Retrieved 24 July 2023. 2. [^](https://en.wikipedia.org/wiki/Percentage_in_point#cite_ref-2) ["Forex Position Size Calculator - Manage Your FX Risk \\| Trading Calculator \\| FX News Radar"](https://www.fxnewsradar.live/forex-position-size-calculator). www.fxnewsradar.live. Retrieved 2025-07-05. 3. [^](https://en.wikipedia.org/wiki/Percentage_in_point#cite_ref-3) Abdulla, Mouhamed (March 2014). [Understanding Pip Movement in FOREX Trading](https://web.archive.org/web/20200331141930/http://drmoe.org/misc/ForexPip.pdf) (PDF) (Report). Archived from [the original](http://drmoe.org/misc/ForexPip.pdf) (PDF) on 2020-03-31. Retrieved 2014-03-26. 4. [^](https://en.wikipedia.org/wiki/Percentage_in_point#cite_ref-4) ["Calculating fx forward points"](https://www.hedgebookpro.com/blog/calculating-fx-forward-points/). Retrieved 11 December 2019. 5. [^](https://en.wikipedia.org/wiki/Percentage_in_point#cite_ref-5) ["Home"](https://web.archive.org/web/20171101002856/https://www.referralforex.com/). referralforex.com. Archived from [the original](https://www.referralforex.com/) on 2017-11-01. Retrieved 2017-11-17. 6. [^](https://en.wikipedia.org/wiki/Percentage_in_point#cite_ref-6) ["Pips and Spreads Explained - Forex Trading Basics"](http://www.forexbrokersreviews.com/trading-academy/pips-and-spreads/). www.forexbrokersreviews.com. Retrieved 2017-04-04. 7. [^](https://en.wikipedia.org/wiki/Percentage_in_point#cite_ref-7) ["Fenics MD » RATES"](http://www.fenicsmd.com/products/rates/). Fenics MD. Retrieved 16 March 2020.
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