In simple we can say Money is traded in Forex Market.
In forex trading, when you buy the EURO, you are basically buying a “share” in the European Countries economy. You are betting that the Europe economy is doing well, and will even get better as time goes. Once you sell those “shares” back to the market, hopefully, you will end up with a profit.
In forex trading, when you buy the EURO, you are basically buying a “share” in the European Countries economy. You are betting that the Europe economy is doing well, and will even get better as time goes. Once you sell those “shares” back to the market, hopefully, you will end up with a profit.
In general, the exchange rate of a currency versus other currencies is a reflection of the condition of that country’s economy, compared to other countries’ economies.
Major Currencies in the Forex Market
| Symbol | Country | Currency | Nickname |
|---|---|---|---|
| USD | United States | Dollar | Buck |
| EUR | Euro zone members | Euro | Fiber |
| JPY | Japan | Yen | Yen |
| GBP | Great Britain | Pound | Cable |
| CHF | Switzerland | Franc | Swissy |
| CAD | Canada | Dollar | Loonie |
| AUD | Australia | Dollar | Aussie |
| NZD | New Zealand | Dollar | Kiwi |
Currency symbols always have three letters, where the first two letters identify the name of the country and the third letter identifies the name of that country’s currency.
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