Foreign exchange market is a global decentralized or over-the-counter market for the trading of currencies.
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15 Facts About Foreign exchange
2.
Foreign exchange market is unique because of the following characteristics:.
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3.
Currency and Foreign exchange were important elements of trade in the ancient world, enabling people to buy and sell items like food, pottery, and raw materials.
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5.
Those involved in controlling Foreign exchange rates found the boundaries of the Agreement were not realistic and so ceased this in March 1973, when sometime afterward none of the major currencies were maintained with a capacity for conversion to gold, organizations relied instead on reserves of currency.
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6.
In developed nations, state control of foreign exchange trading ended in 1973 when complete floating and relatively free market conditions of modern times began.
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7.
Foreign exchange market is the most liquid financial market in the world.
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8.
An important part of the foreign exchange market comes from the financial activities of companies seeking foreign exchange to pay for goods or services.
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9.
Foreign exchange fixing is the daily monetary exchange rate fixed by the national bank of each country.
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10.
Fixing Foreign exchange rates reflect the real value of equilibrium in the market.
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11.
Non-bank foreign exchange companies offer currency exchange and international payments to private individuals and companies.
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12.
Fluctuations in Foreign exchange rates are usually caused by actual monetary flows as well as by expectations of changes in monetary flows.
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13.
All Foreign exchange rates are susceptible to political instability and anticipations about the new ruling party.
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14.
Foreign exchange option is a derivative where the owner has the right but not the obligation to exchange money denominated in one currency into another currency at a pre-agreed exchange rate on a specified date.
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15.
Foreign exchange blamed the devaluation of the Malaysian ringgit in 1997 on George Soros and other speculators.
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