Entity: FOREX
FOREX, short for foreign exchange, is the global market where currencies are traded. It involves the conversion of one country's currency into another and is a key asset class in the financial world.
FOREX
Etymology
Forex is a portmanteau of 'foreign' and 'exchange'.
Definition
Forex, also known as foreign exchange or FX, is the global market where currencies are traded, allowing for the conversion of one country's currency into another.
Historical Context
The forex market has a long history dating back to ancient times when currencies were first exchanged. It has evolved over the years to become the largest financial market in the world.
Cultural Significance
Forex trading plays a crucial role in facilitating international trade and investment, impacting global economies and financial markets.
Related Concepts
- Currency exchange
- Foreign exchange rates
- Trading currencies
See Also
A financial market where banks, businesses, governments, investors, and individuals buy or sell currencies, facilitating international trade and investment.