give a full definition of the foreign exchange market?

Expert Solution

Foreign exchange market:

It is one of the greatest money related market on the planet which works 24 x 7.

Turnover of the market increments with increment in exchanges by other money related foundations which incorporates national banks, shared assets, insurance agencies, multifaceted investments and so forth.

This market covers various tasks like transformation of buying intensity of one cash into another, exchanging remote money, outside exchange financing and so on.

Meaning of market for foreign exchange:

It is a market that manages remote cash related exchanges and covers exchanges like transformation of buying intensity of one cash into another, exchanging outside money, remote exchange financing, change of one outside money into another, outside money stores and so forth.

This market helps in directing universal exchange like import or fare of merchandise where installments is made in outside money by changing over home cash or got in remote cash which is changed over into home cash of dealer or purchaser.

Rahul Sunny answered 6 months ago

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