ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -The foreign exchange market or forex market is the market where currencies are traded. The forex market is the world’s largest financial market where trillions are traded daily. It is the most liquid among all the markets in the financial world.

Detailed explanation-2: -The foreign exchange market (also known as forex, FX, or the currencies market) is an over-the-counter (OTC) global marketplace that determines the exchange rate for currencies around the world.

Detailed explanation-3: -The currency market (also known as the foreign exchange market) is a one-stop marketplace where different currencies can be bought and sold by various participants operating in diverse jurisdictions around the globe. This market plays a very pivotal role in the conduct of international trade.

Detailed explanation-4: -Three are three key types of forex markets: spot, forward, and futures.

Detailed explanation-5: -Investing in currency involves buying the currency of one country while selling that of another. This is done through the foreign exchange market, or “forex.”