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The market where foreign currencies are traded is known as
- a)General market
- b)Financial market
- c)Money market
- d)Foreign exchange market
Correct answer is option 'D'. Can you explain this answer?
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Most Upvoted Answer
The market where foreign currencies are traded is known asa)General ma...
The Foreign Exchange Market (Forex) is where foreign currencies are traded. It is a decentralized global market where currencies are bought and sold. The Forex market is the largest financial market in the world, with an average daily trading volume of $5.3 trillion.
Importance of Forex Market
The Forex market is important because it allows businesses and individuals to convert one currency into another, which is necessary for international trade. For example, if a business in the United States wants to import goods from Europe, they will need to pay in Euros. To do this, they will need to exchange their US Dollars for Euros in the Forex market.
Structure of Forex Market
The Forex market is made up of a network of banks, brokers, and other financial institutions. These entities facilitate the buying and selling of currencies between parties. The Forex market is open 24 hours a day, five days a week, which allows it to operate continuously across different time zones.
Trading in Forex Market
Trading in the Forex market involves buying one currency while simultaneously selling another. The value of currencies is constantly fluctuating, so traders can make a profit by buying low and selling high. Forex trading can be done through a broker or through an electronic trading platform.
Conclusion
The Forex market is an important part of the global financial system. It enables businesses and individuals to engage in international trade and allows investors to speculate on the value of different currencies. The Forex market is open 24 hours a day, five days a week, and has an average daily trading volume of $5.3 trillion, making it the largest financial market in the world.
Importance of Forex Market
The Forex market is important because it allows businesses and individuals to convert one currency into another, which is necessary for international trade. For example, if a business in the United States wants to import goods from Europe, they will need to pay in Euros. To do this, they will need to exchange their US Dollars for Euros in the Forex market.
Structure of Forex Market
The Forex market is made up of a network of banks, brokers, and other financial institutions. These entities facilitate the buying and selling of currencies between parties. The Forex market is open 24 hours a day, five days a week, which allows it to operate continuously across different time zones.
Trading in Forex Market
Trading in the Forex market involves buying one currency while simultaneously selling another. The value of currencies is constantly fluctuating, so traders can make a profit by buying low and selling high. Forex trading can be done through a broker or through an electronic trading platform.
Conclusion
The Forex market is an important part of the global financial system. It enables businesses and individuals to engage in international trade and allows investors to speculate on the value of different currencies. The Forex market is open 24 hours a day, five days a week, and has an average daily trading volume of $5.3 trillion, making it the largest financial market in the world.
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The market where foreign currencies are traded is known asa)General ma...
Foreign exchange market is the place where foreign currencies are traded for each other based upon the demand and supply.
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The market where foreign currencies are traded is known asa)General marketb)Financial marketc)Money marketd)Foreign exchange marketCorrect answer is option 'D'. Can you explain this answer?
Question Description
The market where foreign currencies are traded is known asa)General marketb)Financial marketc)Money marketd)Foreign exchange marketCorrect answer is option 'D'. Can you explain this answer? for Class 12 2024 is part of Class 12 preparation. The Question and answers have been prepared according to the Class 12 exam syllabus. Information about The market where foreign currencies are traded is known asa)General marketb)Financial marketc)Money marketd)Foreign exchange marketCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for Class 12 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The market where foreign currencies are traded is known asa)General marketb)Financial marketc)Money marketd)Foreign exchange marketCorrect answer is option 'D'. Can you explain this answer?.
The market where foreign currencies are traded is known asa)General marketb)Financial marketc)Money marketd)Foreign exchange marketCorrect answer is option 'D'. Can you explain this answer? for Class 12 2024 is part of Class 12 preparation. The Question and answers have been prepared according to the Class 12 exam syllabus. Information about The market where foreign currencies are traded is known asa)General marketb)Financial marketc)Money marketd)Foreign exchange marketCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for Class 12 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The market where foreign currencies are traded is known asa)General marketb)Financial marketc)Money marketd)Foreign exchange marketCorrect answer is option 'D'. Can you explain this answer?.
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