Base Currency means the first currency in the Currency Pair against which the Client buys or sells the Quote Currency.
Eligible Currency means each currency specified as such in Paragraph 11(a)(ii), if such currency is freely available.
Alternative Currency means each of Euro, Sterling, Yen and each other currency (other than Dollars) that is approved in accordance with Section 1.06.
Underlying Currency means the Underlying Currency as specified in § 2 of the Product and Underlying Data.
Base Currency Equivalent means, with respect to an amount on a Valuation Date, in the case of an amount denominated in the Base Currency, such Base Currency and, in the case of an amount denominated in a currency other than the Base Currency (the “Other Currency”), the amount of Base Currency required to purchase such amount of the Other Currency at the spot exchange rate determined by the Valuation Agent for value on such Valuation Date.
Quote Currency means the second currency in the Currency Pair which can be bought or sold by the Client for the Base Currency.