- International Digital Currency Markets
- Global Market Indices | International Markets | Markets
- XE Currency Converter - Live Rates
In general, we can differentiate between the currency market and the banknote market the first refers to the market for trades between financial institutions or between financial institutions and companies or institutions (it is also known as the wholesale market). The second refers to the exchange of physical notes that takes place in banking institutions or exchange houses, basically to satisfy the needs of people who are travelling to a country whose currency is different from their own (domestic money is exchanged for foreign money).
International Digital Currency Markets
Currencies are identified by a three-letter code ( ISO 9767 ) and currency pairs are identified by a six-letter code. For example, the dollar with respect to the euro:
Global Market Indices | International Markets | Markets
As it is a fundamentally unorganized market, the forex market has a large number of operations centers around the world. Among the most important are Tokyo, Singapore, Sidney, Hong Kong, Bahrein, London, Frankfurt, Zurich, New York, Chicago and Toronto.
XE Currency Converter - Live Rates
The foreign currency or foreign exchange market is a decentralized worldwide market in which currencies are traded. It was created in order to facilitate the flow of money derived from international trade. Today, it is the world 8767 s largest financial market, with an average daily volume of about $5 trillion, and is undergoing an important and growing “electronification.”
Unlike the stock exchanges, which are organized and have a clearing house , the currency market is unregulated, free, and private no institution acts as an intermediary between the parties to guarantee that they comply with the obligations both have acquired. Each transaction is closed with a private contract between the parties.
These range from central banks to private individuals, and for the large number of currencies that are traded. Among them, the most representative is the . dollar, the currency in which more than 65% of the reserves held by the world´s central banks is denominated. The dollar is followed by the euro, the money in which 79% of the world´s international reserves are denominated. The Japanese yen and the British pound account for % and %, respectively.