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    What is 'foreign exchange market.'?

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    What is foreign exchange market?

    1. Market in which foreign currencies are bought and sold and exchange rates between currencies are determined. The exchange rate is the price at which one country's currency can be converted into another. Some exchange rates are fixed by agreement, but most are determined by supply and demand on the exchange market
    2. Market where currencies are traded internationally. About a trillion (million million) dollars-worth of foreign exchange is traded globally every day, making forex larger than all bond markets ...

    Solution Summary

    The expert determines what is foreign exchange markets.