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Forex

Meaning: 

Forex (Foreign Exchange) is the global marketplace where currencies are bought, sold, and exchanged. It is the largest and most liquid financial market in the world, operating 24 hours a day across different countries. In simple words, Forex is the market where you exchange one currency for another.

Example:

If you travel from India to the USA and exchange ₹10,000 for $130, you are participating in the Forex market.


How to understand Forex:

Forex enables people and businesses to trade currencies from different countries. 
It helps determine how much one currency is worth compared to another.

Importance of Forex:   

Forex supports international trade and helps businesses operate globally.
It allows tourists to convert their money for travel expenses.