31/10/2023
FOREIGN EXCHANGE MARKET
Brief markets are highly performing well after pandemic of covi19
- This is the market where foreign currencies are traded e.g Bitcoin, Dollar $, Pound Sterling £, Euro € , Yen ¥ etc. The commodities, shares, and indexes are also traded in this market. The market is also known as forex market or spot market.
- In SA the forex market is known as the interbank foreign exchange market. It is a liquid market.
- It can also be defined as the market where goods and services are traded globally ( Importing & Exporting ).
EXCHANGE RATE
- The rate at which one currency can be exchanged for another.
- It can also be described as the price of one country's currency in terms of another.
(E.g R1 = 19$)
Whatsapp us on 068 288 9841
