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    Current page location: Home Page > Article > The Importance of Foreign Exchange
    The Importance of Foreign Exchange
    Browse volume:96 | Reply:0 | Release time:2018-11-28 14:37:11

    The global market is an important thing for the world's economy. It keeps on changing the world's economy. The volume of the global market keeps on changing too. There were transactions as big as 1900 billion dollars in 2004. It includes 600 billion cash transactions and about 1300 billion in the future operations.

    The volume of transactions was about 53% between the banks itself and about 33% between banks, fund managers and non-bank financial organizations. There is about 14% between banks and non-financial organizations including all the major banks, and retailers or dealers. There are some teams based in Australia and Asia have succeeded the foreign exchange in other continents such as America and Europe. This means that all of people can do foreign exchange anywhere in this world.

    People can do the forex anywhere in this world. However, the main market of Forex is in London. In their last three-yearly review showed, the BIS or Bank for International Settlements announced that more people are choosing to invest in foreign exchange than any other businesses. Although still a small minority of transactions and volume devoted to private investors has increased too. Many people have chosen to invest their money in the foreign exchange, because of the technology today. There are many services on the internet where people can access the information about forex in which they can track their business all over the time.

    The foreign exchange markets have been founded since long time ago until it is in its present form, a changing exchange rate since March 1973 and called the elimination of the exchange rates of many different currencies to the US dollar in 1944.

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