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What is FOREX or Foreign Exchange?

April 26, 2017foreign exchange forex

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What is FOREX or Foreign Exchange?

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FOREX or Foreign exchange means purchasing of one currency and selling of another currency. This is considered to be the biggest economic market worldwide having an average yield of about US$1.2 trillion. All the currencies of the world are exchanged in another currency of their country and are forever exchanged in pairs. They make use of the floating exchange rate.