Exchange rates tell you how much your currency is worth in a foreign currency. Think of it as the price being charged to purchase that currency. For example, in April 2020, 1 euro was equal to $1.2335 U.S. dollars, and $1 U.S. dollar was equal to 0.81 euros.1 Foreign exchange traders decide the exchange rate for most currencies. They trade the currencies 24 hours a day, seven days a week. As of 2019, this market trades $6.6 trillion a day. international Money Transfer in Namakkal
Foreign Exchange (forex or FX) is the trading of one currency for another. For example, one can swap the U.S. dollar for the euro. Foreign exchange transactions can take place on the foreign exchange market, also known as the forex market.The forex market is the largest, most liquid market in the world, with trillions of dollars changing hands every day.There is no centralized location. Rather, the forex market is an electronic network of banks, brokers, institutions, and individual traders (mostly trading through brokers or banks). Money Transfer in Namakkal
The foreign exchange (also known as FX or forex) market is a global marketplace for exchanging national currencies against one another. Because of the worldwide reach of trade, commerce, and finance, forex markets tend to be the largest and most liquid asset markets in the world. Currencies trade against each other as exchange rate pairs. For example, EUR/USD.Forex markets exist as spot (cash) markets as well as derivatives markets offering forwards, futures, options, and currency swaps.Market participants use forex to hedge against international currency and interest rate risk, to speculate on geopolitical events, and to diversify portfolios, among several other reasons.
The foreign exchange market (Forex, FX, or currency market) is a global decentralized or over-the-counter (OTC) market for the trading of currencies. This market determines foreign exchange rates for every currency. It includes all aspects of buying, selling and exchanging currencies at current or determined prices. In terms of trading volume, it is by far the largest market in the world, followed by the credit market.
The main participants in this market are the larger international banks. Financial centers around the world function as anchors of trading between a wide range of multiple types of buyers and sellers around the clock, with the exception of weekends. Since currencies are always traded in pairs, the foreign exchange market does not set a currency's absolute value but rather determines its relative value by setting the market price of one currency if paid for with another. Ex: US$1 is worth X CAD, or CHF, or JPY, etc. get details
