A base currency is:

Question $17$ options:

a$)$

the first$-$named currency in the foreign exchange quote where one unit expressed in terms of another currency being traded.

b$)$

the second$-$named currency in the foreign exchange quote used to express the value or price of the base currency.

c$)$

the rate at which one nation's currency can be exchanged for another's at the present time.

d$)$

none of the above.