The currency Forex market is where the money of one country--US dollars, for instance?is exchanged for that of another, like Japanese yen.
But unlike the world?s other economic markets, currency Forex trading is not centralized.
There is no Wall Street or Throgmorton Street with an historic exchange building; Currency Forex trading exists only over telephone wires and Internet connections.
But exist it does; and it involve a global network of financial institutions, individuals, and banks all working around the clock and unhampered by international borders.
At one time currency Forex trading was the domain of banks that held large amounts of money in various currencies so that they could participate in global investment and business opportunities.
Individuals could participate in currency Forex trading only by going through their banks.But when exchange rates became unregulated the volume of currency Forex trading began to mushroom.
Sunday, March 7, 2010
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