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Forex

Meaning: 

Forex, or Foreign Exchange, is defined as the global marketplace where currencies are bought, sold, and exchanged. It is the largest and most liquid financial market in the world, operating continuously across various countries and time zones.


Example:

For example, if you trade currency pairs like USD/INR, you are participating in the Forex market by exchanging U.S. dollars for Indian Rupees.


How to understand Forex:

Forex facilitates international trade and global business by enabling currency conversions.
It plays a crucial role in determining exchange rates, which affect how much currencies are worth against each other.


Uses of Forex: 
Forex is used for converting currencies for travel or business.
It supports cross-border e-commerce by allowing transactions in different currencies.
Investors use Forex to hedge against currency fluctuations and manage global payments.




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