Definition : Foreign Exchange
Category : Business » Business Terms
Country/Region : Worldwide Worldwide
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What does Forex mean?

Foreign Exchange (Forex or FX), is the largest international currency exchange market in the world. It is the market where various currencies are traded. Trading on Foreign exchange market simply means buying of one currency and selling another at the same time. In other words, the currency of one country is exchanged for currency of another country at the current exchange rates. The Forex market is open 24 hours a day.