In finance, the exchange rates (also known as the
foreign-exchange rate, forex rate or FX rate) between
two currencies specifies how much one currency is worth in terms of the
other. For example an exchange rate of 102 Japanese yen (JPY, ¥) to the
United States dollar (USD, $) means that JPY 102 is worth the same as USD
1. The
foreign exchange market is one of the largest markets in the world. By
some estimates, about 2 trillion USD worth of currency changes hands every
day.
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