In foreign exchange market, the value of two currencies and how they relate to one another is known as the forex exchange rate. The foreign exchange rate between two currencies specifies how much one currency is worth in terms of the other.
The foreign exchange is one of the largest financial markets in the world. By some estimates, about 3 trillion USD worth of currency changes hands every day and the figure is rising everyday.
Forex trading involves transaction between large banks, speculators, corporations, governments, and other financial markets and institutions. Individuals constitute a small fraction and participate indirectly through brokers or banks.
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