What is “Foreign Exchange”?
The Foreign Exchange market, also referred to as the “Forex” market, is the most traded financial market in the world, with a daily average turnover of approximately US$3.2 trillion. Foreign Exchange is the simultaneous buying of one currency and selling of another. The world’s currencies are on a floating exchange rate and are always traded in pairs, for example Euro/Dollar or Dollar/Yen.
The foreign exchange market, also referred to as the ‘Forex’ or ‘FX’ market, is the largest financial market in the world, with a daily average turnover of approximately $1.9 trillion USD. Foreign exchange is the simultaneous buying of one currency and selling of another. The world’s currencies are on a floating exchange rate and are always traded in pairs, for example Euro/US Dollar or US Dollar/Yen.
The Foreign Exchange market, also referred to as the “Forex” market, is one of the largest financial markets in the world, with a daily average turnover of approximately US$1.9 trillion. Foreign Exchange is the simultaneous buying of one currency and selling of another. The world’s currencies are on a floating exchange rate and are always traded in pairs, for example Euro/Dollar or Dollar/Yen.
The Foreign Exchange market, also referred to as the “FOREX” market, is the largest financial market in the world, with a daily average turnover of approximately $1.5 trillion. Foreign Exchange is the simultaneous buying of one currency and selling of another. The world’s currencies are on a floating exchange rate and are always traded in pairs, for example EUR/USD or USD/JPY.
Related Questions
- I want to make a booking online and to pay in foreign currency using my credit card. How will the foreign exchange rate be applied to my booking?
- For someone just starting to try forex trading, what trends or patterns would be most useful or fundamental to learn about and study first?
- Anyone interested in online foreign exchange for business?
