The Foreign exchange market, often referred to as FOREX, is the market for the various currencies of the world which makes it the largest financial market in the World with a daily average turnover of about $ 3 trillion usd. It is a market which at its core, is rooted in global trade. Goods and services are exchanged 24 hours a day all over the world. Transactions like that take place all the time Those transactions done across national borders require payment in non-domestic currencies. That is where the FOREX market comes in.
Thursday, August 13, 2009
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