What is “Foreign Exchange”?
The Foreign Exchange market, Forex trading or FX market is the largest financial market in the world, about 1.5 trillion $ are turned over in Forex daily. Foreign Exchange or currency trading is the synchronous buying of one currency and selling of another. All currencies are traded in pairs as EUR/USD (euro/us dollar).
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 US$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 Euro/Dollar or Dollar/Yen.
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 U.S. dollar/yen. With a daily average turnover of approximately U.S. $1.5 trillion, the Foreign Exchange market, also known as the “Forex” or “FX” market, is the largest financial market in the world.
“Foreign Exchange” is the simultaneous buying of one currency and selling of another. The Foreign Exchange market is the largest financial market in the world, with a daily average turnover of well over US$1 trillion. However, Forex is not a market in a traditional sense. FX trading has no single location. The international FX market is a worldwide telecommunications network between the banks, FX brokers, and FX dealers simultaneously. Forex is open 24-hour a day, and the currency exchange operations are maintained through working days of the week. Almost every time zone has dealers willing to quote currencies.
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?
