Do you know that the International Currency Market is the largest financial market in the world, with a daily trading volume of around $5 trillion! And, the transactions don’t happen from a single exchange, but through a mammoth network of banks and brokers around the globe.
The principal purpose of the ‘Forex’ market, (the more popular pseudonym!), is to facilitate foreign trade transactions, or the buying and selling of goods using multiple currencies. However, the ‘exchange’ prices are highly volatile and always in a state of flux. This infographic discusses the 6 factors that impact currency rates.