foreign exchange market
Definition
Global market in convertible currencies are traded and their conversion rates are determined. It is the world's largest financial market in which every day, on average, some one and one-half trillion dollar worth of currencies are bought and sold. Out of this only about 15 percent is traded for goods or services, the balance 85 percent is traded by the individual and institutional speculators.
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foreign exchange market is in the Banking, Commerce & Finance and Currency Trading subjects.
foreign exchange market appears in the definitions of the following terms: foreign exchange (Forex or FX), effective exchange rate (EXR), spot rate, Herstatt risk, spot date and special drawing rights (SDR)
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