Need for Forex
Forex stands for foreign exchange market or currency market. It is a well known fact that each country has its own currency and the value of each currency varies from the other. This may lead to havoc and chaos when inter country business is carried out. The currency of one country will not be accepted by the other. Hence forex comes in to scene. The relative values of various countries are determined by foreign exchange market or forex. In this manner, with the help of forex, one country can do business with the other without any barrier of currencies. This in turn helps in the growth of world economy.
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