ECONOMICS
FOREIGN CURRENCY MARKETS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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done 24 times per day.
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done 24 hours a day.
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done 24 hours every week.
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None of the above
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Detailed explanation-1: -Forex market hours are the schedule by which forex market participants can buy, sell, exchange, and speculate on currencies all around the world. The forex market is open 24 hours a day during weekdays but closes on weekends.
Detailed explanation-2: -The forex market is open 24 hours a day in different parts of the world, from 5 p.m. EST on Sunday until 4 p.m. EST on Friday. The ability of the forex to trade over a 24-hour period is due in part to different international time zones.
Detailed explanation-3: -Currency trading hours in India are from 9.00 a.m. to 7.30 p.m. Currency pairings in INR may be traded until 5.00 p.m., whereas cross-currency pairings can be exchanged until 7.30 p.m. In 2023, the Indian forex market will be inactive for 19 days.
Detailed explanation-4: -Unlike Wall Street, which runs on regular business hours, the forex market runs on the normal business hours of four different parts of the world and their respective time zones, which means trading lasts all day and night.