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What does FX stand for in relation to foreign exchange rates?

A:

Quick Answer

In relation to foreign exchange rates, FX is the abbreviation of forex. The Forex is a financial market where all currencies of the world are traded. It is the most liquid and by far the largest market in the world in terms of cash traded.

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Full Answer

The market determines the relative value of different currencies. It operates around the clock except on weekends. There is no central marketplace for currency trading; it is an over the counter trade conducted in financial institutions such as banks and forex bureaus. The foreign exchange market facilitates international trading and investment by enabling currency conversion.

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