MANAGEMENT

Detailed explanation-1: -The foreign exchange market, also known as the forex market, is a global marketplace for trading in currencies. It is a decentralised market that allows you to buy and sell foreign exchange. The market is an over-the-counter market and the foreign exchange rates will be dictated by it.

Detailed explanation-2: -foreign exchange market (forex, or FX, market), institution for the exchange of one country’s currency with that of another country.

Detailed explanation-3: -The foreign exchange market is an over-the-counter (OTC) marketplace that determines the exchange rate for global currencies. It is, by far, the largest financial market in the world and is comprised of a global network of financial centers that transact 24 hours a day, closing only on the weekends.

Detailed explanation-4: -More specifically, foreign exchange transactions include: the spot foreign exchange purchase and sale and foreign exchange transaction business for personal customers; the spot, forward and option-date forward foreign exchange transaction business for corporate customers; and the foreign currency option transaction.