A Pip in Forex is the smallest incremental price move of a currency pair. It’s the last decimal point in exchange rates or currency pairs. Depending on the context, this is normally one basis point 0.0001 in the case of all the pairs XXX/USD and .01 in the case of all the pairs XXX/JPY. 

Part of our multimedia library, learn in this video how to calculate the pip (the short abbreviation for “percentage in point”) value in Forex.

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If you would like to know more about pips in Forex trading, the difference between pip, tick, tick size or the pip value on direct rates, please read our complete article What are Pips in Forex Trading.

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Use our handy Forex Pip Calculator to accurately calculate the value of Forex pip(s) per currency pair and crypto currencies quickly and easily.