Explain the meaning of Foreign Exchange? Describe the features of fore

Question

Explain the meaning of Foreign Exchange? Describe the features of foreign exchange market and compare them with the other segments of financial markets.

15 Feb 2024

Answer :

Word Count : 545

Foreign Exchange, often abbreviated as Forex or FX, refers to the global marketplace where currencies are bought and sold against one another. It is a decentralized market, meaning it does not have a physical location, and operates 24 hours a day, five days a week. The primary purpose of the foreign exchange market is to facilitate international trade and investment by enabling the conversion of one currency into another.

Features of the Foreign Exchange Market:

1. Decentralization:
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