What is the ‘Forex Market’
The forex market is the market in which participants can buy, sell, exchange, and speculate on currencies. The forex market is made up of banks, commercial companies, central banks, investment management firms, hedge funds, and retail forex brokers and investors. The currency market is considered to be the largest financial market with over $5 trillion in daily transactions, which is more than the futures and equity markets combined.
Operating hours of Forex Market.
From Monday morning in Asia, to Friday afternoon in New York, the forex market is a 24-hour market, meaning it does not close overnight. This differs from markets such as equities, bonds, and commodities, which all close for a period of time, generally in the New York late afternoon.
The Big Players
The US dollar is by far the most traded currency, making up close to 85 percent of all trades. Second is the euro, which is part of 39 percent of all currency trades, and third is the Japanese yen at 19 percent. (Note: these figures do not total 100 percent because there are two sides to every FX transaction).
What is Forex Trading?
The term ‘Forex’ stands for Foreign Exchange. Forex trading in simple terms is the trading in currencies from different countries against each other; for example, the US Dollar against the Euro.
The Indian Forex Market
- Foreign Exchange market in India works Under the Central Government in India.
- The Indian foreign exchange market is Made Up of the buyers, Sellers, Market Mediators and the monetary Authority of India.
- The Foreign Exchange Management Act,1999 or FEMA regulates the Whole Foreign Exchange market.
- The Foreign exchange market India is growing very rapidly and the annual turnover of the market is more than $400 billion.
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