Running head: FOREIGN EXCHANGE MARKET1Foreign Exchange MarketInstructor nameSubmitted byDateFOREIGN EXCHANGE MARKET2Foreign Exchange MarketTwo functions of the Foreign Exchange MarketThe Foreign Exchange (FOREX) Market is the place where the purchasers and dealersare engaged in the purchasing and selling of foreign money. Essentially, the market in which themonetary standards of various nations are purchased and sold is called as a foreign exchangemarket. The two main functions of foreign exchange market are two main functions are transferfunction and give some protection against foreign exchange chance. Transfer Function is theprimary and the unique capability of foreign exchange market is the exchange of foreigncurrency begins with one country then on the other for the resolution of payments. It basicallyincludes the change of a currency of one nation then onto the next, in which the part of foreignstarting with is to exchange the buying power starting with one nation then onto the next. Forinstance, if the exporter of India import products from the USA and the payment is to be made indollars, at that point the change of the rupee to the dollar will be encouraged by FOREX. Theexchange work is performed through a utilization of acknowledging instruments, for example,bills of foreign exchange, bank drafts, and phone exchanges. (Functions of Foreign ExchangeMarket, n.d.) Foreign Exchange insurance is a pledge by means of which the investor an ...
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