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foreign currency exchange
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forex trading marketplace
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what is forex mean
Do want to clearly understand what is forex If you've ever moved in order to another country, you usually had to find a foreign currency exchange booth at the airport terminal, and then change the money you have in your wallet (if you happen to be a dude) or bag (if you are a lady) or man laptop bag into the forex of the country you are visiting.
You go around the counter-top and notice a screen exhibiting different forex rates for different foreign currencies. You see "Japanese yen" and think to by yourself, "WOW! My own 1 dollar might be priced at 100 yen?!And I have ten dollars! Now i am likely to be rich!!!" (This enjoyment is actually speedily killed once you stop by a purchase from the airport terminal afterwards to obtain any can of soda in addition to, you realize that, half your money is gone. )
Whenever you make it happen, you might have essentially participated in the currency markets! You've exchanged one currency with regard to another. Or in foreign currency trading terms, presuming you happen to be an American traveling to Japan, you've sold dollars and bought yen.Before you take flight back home, everyone drop by your foreign currency exchange booth in order to trade your yen for you to miraculously possess left over (Tokyo is high priced! ) and notice that forex rates have altered. It's these kinds of adjustments in the exchanges rates which allow you to make money within the forex trading marketplace.So this would have explained you the answers for the questions "What is forex".