In the word FOREX we can find basically two word, they are FOR & EX
Here FOR means Foreign
EX means Exchange
By joining two word we get the meaning of FOREX is Foreign Exchange.
FOREX the foreign exchange market or currency market or Forex is the market where one currency is traded for another. It is one of the largest markets in the world.
Exchange Rate is the price of one country’s money in terms of other country’s money. When we say that exchange rate of Bangladeshi taka is 72 per U.S dollar, we mean than 72 Bangladeshi takas are required to purchase one U.S. dollar. When his exchange rate becomes 73 we say that the value of Bangladeshi Taka has against the U.S dollar one the other hand when the exchange rate becomes 74 we say that Bangladeshi taka has appreciated against the U.S. dollar.
AS AN EXAMPLE
Here FOR means Foreign
EX means Exchange
By joining two word we get the meaning of FOREX is Foreign Exchange.
Forex or Spot Forex is buy or sale of foreign currency. In the forex Market you can buy one currency (Examply: Currency of Country X) against to sale other currency (Examply: Currency of Country Y)
FOREX the foreign exchange market or currency market or Forex is the market where one currency is traded for another. It is one of the largest markets in the world.
Exchange Rate is the price of one country’s money in terms of other country’s money. When we say that exchange rate of Bangladeshi taka is 72 per U.S dollar, we mean than 72 Bangladeshi takas are required to purchase one U.S. dollar. When his exchange rate becomes 73 we say that the value of Bangladeshi Taka has against the U.S dollar one the other hand when the exchange rate becomes 74 we say that Bangladeshi taka has appreciated against the U.S. dollar.
AS AN EXAMPLE
The currency of America is Doller (USD) & the currency of London is Pound (GBP). In the FOREX market your can buy doller (USD) against to sale Pound (GBP). Again you can sale Doller (USD) against ot buy Pound (GBP).
