"Forex" is a common abbreviation for "Foreign Exchange", which is the place where currencies are traded.

The terms forex market and currencies market are often used to refer to the foreign exchange, which is actually the largest global market in terms of volume of business.

The basic function of forex is to allow people and businesses to swap/exchange currencies to meet their needs. Another common abbreviation for foreign exchange, forex market or currency market, is  FX market  

The value of a currency depends on many factors, including the country’s economic prospects and interest rates.. Forex markets are open 24 hours a day.   

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