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What do you think would happen if the foreign exchange market was not created and how do you think it would affect business transactions and tourism.

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What do you think would happen if the foreign exchange market was not created and how do you think it would affect business transactions and tourism.

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Forex market performs many important functions to facilitate global trade. The most important function of forex market is that it provides a platform for buying and selling of all currencies and thus, provides a mechanism for countries and its businesses to make or receive payments and transfer funds across borders and thus, provides purchasing power from one currency to another. In the absence of such solid transfer mechanism, it will be impossible to think about bilateral trade between nations as businesses will be wary of conducting trade with each other in the ...

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Sheetal Jain, PGDM
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  • BComm, University of Delhi
  • Post Graduate Diploma in Management (Equivalent to MBA), All India Management Association
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