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Western Union also makes money from currency exchange. When choosing a money transmitter.
We are deal in Forex Trading. Forex is a portmanteau of foreign currency and exchange. Foreign exchange is the process of changing one currency into another currency for a variety of reasons, usually for commerce, trading or tourism. According to a recent triennial report from the Bank for International Settlements (a global bank for national central banks), the average was more than TRX trillion in daily forex trading volume. Forex, also known as foreign exchange, FX or currency trading, is a decentralized global market where all the world's currencies trade. The forex is the largest capital marketplace in the world.
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The foreign exchange market (Forex, FX, or currency market) is a global decentralized or over-thecounter (OTC) market for the trading of currencies. This market determines foreign exchange rates for every currency.
It includes all aspects of buying, selling and exchanging currencies at current or determined prices. In terms of trading volume, it is by far the largest market in the world, followed by the credit market.
The main participants in this market are the larger international banks. Financial centers around the world function as anchors of trading between a wide range of multiple types of buyers and sellers around the clock, with the exception of weekends.
Since currencies are always traded in pairs, the foreign exchange market does not set a currency's absolute value but rather determines its relative value by setting the market price of one currency if paid for with another. Ex: USD 1 is worth X CAD, or CHF, or JPY, etc.