Forex

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Forex

Meaning:

Forex, short for Foreign Exchange, refers to the global marketplace where currencies are bought, sold, and exchanged. It is the largest and most liquid financial market in the world, operating 24 hours a day across different countries.

Example:

For instance, if a business in India needs to pay a supplier in Europe, it will use the Forex market to convert Indian Rupees (INR) into Euros (EUR).

How to understand Forex:

Forex enables international trade and helps businesses manage payments across borders.

It determines exchange rates, which show how much one currency is worth compared to others.

Importance of Forex:

Forex helps governments and central banks maintain economic stability.

It influences tourism and travel, allowing travelers to convert their money easily.

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Forex

Forex helps governments and central banks maintain economic stability. It influences tourism and travel, allowing travelers to convert their money easily.

Forex helps governments and central banks maintain economic stability.

It influences tourism and travel, allowing travelers to convert their money easily.