- published: 17 Feb 2011
- views: 327169
The foreign exchange market (forex, FX, or currency market) is a form of exchange for the global decentralized trading of international currencies. Financial centers around the world function as anchors of trading between a wide range of different types of buyers and sellers around the clock, with the exception of weekends. The foreign exchange market determines the relative values of different currencies.
The foreign exchange market assists international trade and investment by enabling currency conversion. For example, it permits a business in the United States to import goods from the European Union member states especially Eurozone members and pay Euros, even though its income is in United States dollars. It also supports direct speculation in the value of currencies, and the carry trade, speculation based on the interest rate differential between two currencies.
In a typical foreign exchange transaction, a party purchases a quantity of one currency by paying a quantity of another currency. The modern foreign exchange market began forming during the 1970s after three decades of government restrictions on foreign exchange transactions (the Bretton Woods system of monetary management established the rules for commercial and financial relations among the world's major industrial states after World War II), when countries gradually switched to floating exchange rates from the previous exchange rate regime, which remained fixed as per the Bretton Woods system.
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i met a girl who was a gypsy barefoot in the snow
her eyes like charcoal, they let me know that she needed
a place to go
she said that she fell asleep in the field and her family
rolled away
she cried that she was lost and that she needed a place
to stay
and then she said our love would never die
but then she threw her body to the ocean tide
and now i know all about the future and all i do is cry
the world pronounced her dead today there upon the rocks
i stood above them, way above them and then i jumped a
block
i remember when she said our love would never die
so then i threw my body to the ocean tide
and now i'm with her, here in heaven we kissed this world
goodbye