Forex
The market for exchanging one currency for another. It trades over the counter between banks and brokers rather than on a central exchange, around the clock on weekdays.
Also called FX · foreign exchange · currency market
The market for exchanging one currency for another. It trades over the counter between banks and brokers rather than on a central exchange, around the clock on weekdays.
Why it matters
There is no single official price: quotes differ slightly between venues, and published reference rates are set once a day.
Related terms
- Currency Pair
- Base Currency
- Exchange Rate
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