Exact dollar value per pip for any forex pair and lot size.
A pip is the smallest price move in a currency pair — typically 0.0001 for most pairs, 0.01 for JPY pairs. The dollar value of a pip depends on the pair, lot size, and current exchange rate.
For EUR/USD with a standard lot: pip value = 0.0001 × 100,000 = $10 per pip. This is why knowing your pip value is critical for position sizing — a 20-pip stop on a standard lot = $200 risk.