In counting and statistical contexts, "pip" often refers to a unit of measurement or a small increment. The term is commonly used in various fields, including finance and gaming. 1. **Finance**: In the context of foreign exchange (forex) trading, a "pip" stands for "percentage in point" and represents the smallest price move that a given exchange rate can make based on market convention. For most currency pairs, a pip is typically a movement of 0.0001.
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