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Introduction

The Forex market is where currencies are accepted and sold. Coins are important because they allow us to buy goods and services locally and across borders. To trade and foreign trade, international currencies must be exchanged.

If you live in the United States and want to buy cheese from France, you or the company you purchased the cheese must pay the French for the cheese in Euros (EUR). It means that the US importer must convert the equivalent value of the US dollar (USD) to Euro.

The same goes for travel. A French traveler in Egypt cannot pay in euros to see the pyramids as there is no locally accepted currency. The traveler has to exchange Euros for the local currency, Egyptian pounds, at the current exchange rate. For Submitting Your Articles, you can email us at contact@supercomputerworld.com

History of Forex Market

The foreign exchange market has existed for centuries in its most basic sense. People have always bartered or bartered goods and currencies to buy goods and services. However, as we understand it today, the foreign exchange market is a relatively modern invention.

After the Bretton Woods agreement began to collapse in 1971, more currencies were allowed to float freely against each other. Individual coin values vary according to demand and circulation and are monitored by forex trading services.2

Commercial and investment banks do most transactions in foreign exchange markets on behalf of their clients. Still, there are also speculative opportunities for professional and individual investors to trade one currency against another.

Overview of Forex Market

The Forex market is where currencies are bought and sold. The only real continuous and uninterrupted trading market in the world. In the past, the foreign exchange market was dominated by corporate companies and large banks acting on behalf of customers. However, it has become more retail-orient in the new Year as traders and investors of many sizes have start to get involve.

An exciting aspect of world currency markets is the absence of physical buildings that serve as trading posts for the needs. Instead, it is a series of business terminals and computer network connections. Therefore, participants in this market are institutions, investment banks, commercial banks and retail investors.

The foreign exchange market is consider more opaque than other financial markets. Currencies are trad on OTC markets where disclosure not mandatory. And also, Large liquidity pools from institutional companies are a dominant feature of the market. It can be assume that the economic parameters of a country should be the most crucial criterion in determining its price. But that’s not the case. And also, 2019 survey revealed that the motives of major financial institutions play the most prominent role in deciding currency prices.