Where can you obtain information about current foreign exchange rates?


Quick Answer

Many news and investment websites, including CNBC.com, Money.CNN.com, and Investing.com, maintain real-time information on foreign currency exchange rates and the currency market. In addition, currency brokerage websites such as FXCM.com and FXStreet.com have live currency charts along with data and commentary on upcoming central bank announcements and other currency news.

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Where can you obtain information about current foreign exchange rates?
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Full Answer

FOREX, the foreign currency exchange market, is a large market, averaging $1 trillion daily in trades that range from tourists exchanging local money and nations buying local currency to buy local goods from other nations to the speculative trades made by banks and other investors. All of this activity is tracked and charted moment by moment across hundreds of currency pairs.

Most currency trade occurs between the largest economies in the world. Some popular currency pairs include the Euro and the U.S. dollar, the U.S. dollar and Japanese yen, and the British pound and U.S. dollar. Favorites have nicknames among traders, such as Cable for the Pound (from early trans-Atlantic cable readings), Aussie for the Australian dollar, Loonie for the Canadian dollar, and Kiwi for the New Zealand dollar.

As of June 2015, the U.S. dollar is growing in strength, especially in relation to the Euro, with ongoing troubles in Greece, and the yen due to Japan's seemingly endless financial doldrums. FOREX is nothing if not volatile, however, and investment sites carry a warning to that effect. One potential shake-up on the horizon for the U.S. dollar is the gradual emergence of the Chinese yuan as an important world currency.

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