What Is a Pip in Forex? Pip Value, Pipettes and How to Calculate It for Every Pair
A pip in forex is the standard unit of price movement: the fourth decimal on most pairs and the second on yen pairs. This guide explains what a pip is, why the yen pairs differ, what the fifth decimal (the pipette) is for, how to convert pips into money for any pair and lot size, why pip value changes with the quote currency, and how gold and indices are measured instead.