ISSN: 2044-9038 (Print) 2044-9046 (Electronic)

Clinical Practice

Foreign Exchange - Open Access Articles

 Foreign exchange, or forex, is that the conversion of 1 country's currency into another. during a free economy, a country's currency is valued consistent with the laws of supply and demand. In other words, a currency's value are often pegged to a different country's currency, like the U.S. dollar, or maybe to a basket of currencies. A country's currency value can also be set by the country's government. However, many countries float their currencies freely against those of other countries, which keeps them in constant fluctuation. the worth of any particular currency is decided by economic process supported trade, investment, tourism, and geo-political risk. whenever a tourist visits a rustic , for instance , they need to buy goods and services using the currency of the host country. Therefore, a tourist must exchange the currency of his or her home country for the local currency. Currency exchange of this type is one among the demand factors for a specific currency. Another important factor of demand occurs when a far off company seeks to try to to business with another during a specific country. Usually, the foreign company will need to pay within the local company's currency. At other times, it's going to be desirable for an investor from one country to take a position in another, which investment would need to be made within the local currency also . All of those requirements produce a requirement for exchange and contribute to the vast size of exchange markets.  

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