The point or basis point (PIP) is the important unit of account for a quote, with 1 point being 1% of the minimum unit of value of the quote.
For example, the minimum unit of value of the US dollar is the US cents, then the minimum quoted unit of other currencies against the US dollar is US $0.0001. When the exchange rate rises from 1.1800 to 1.1900, it is usually said that the pound rises 100 points or the US dollar falls 100 points.
On the above, the exchange rate is usually shown in five digits, for example: 1.3680, EURJPY 141.05.
Therefore, every change of the fourth digit after the decimal point is called a change of one point.