Involves the almost-immediate purchase or sale of foreign exchange.
The foreign exchange market, often known as the currency market or the over-the-counter (OTC) market, is a global decentralized marketplace for trading currencies. The exchange rates for all currencies are set by this market. All aspects of purchasing, selling, and exchanging currencies at established or current prices are included. It is the world's largest market in terms of trading volume, closely followed by the credit market.
The bigger international banks make up the majority of the market participants. With the exception of weekends, financial hubs all around the world serve as anchors for trading between a variety of different types of buyers and sellers every single hour of the day. The foreign exchange market does not determine a currency's value because they are always traded in pairs.
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