Foreign Exchange (Forex)

Foreign Exchange (Forex) is the global marketplace for buying and selling currencies. It operates 24/5, allowing traders to exchange one currency for another at fluctuating rates. These rates change based on economic factors, interest rates, and market sentiment. Forex is crucial for international trade, as it enables businesses to pay for goods and services in different currencies. Investors also participate to profit from currency movements. The Forex market is the largest financial market, with a daily trading volume exceeding $6 trillion, involving various participants, including banks, corporations, and individual traders.