It has no place defined as grants (Paris Stock Exchange, New York.). Forex is a continuous flow of exchanges between banks worldwide. The exchanges can cause fluctuations in the currencies of all countries.
Today, the Forex (Foreign Exchange) is an interbank market (OTC) opened 24h/24 with an average 4,000 billion daily (April 2010). Parities are most traded the EUR / USD (about 28% of total volume), the usd / jpy (about 17% of total volume), the gbp / usd (about 14% of total volume).
Currencies fluctuate 24h/24 and 7 days 7 (Most forex brokers do not trade the weekend as the volatility in the forex market is very low). The lowest variation on a parity of 1 pip.
Called the exchange rate the price of exchange between two currencies.For the exchange rate Eur / usd, if the price is 1.2850, so if you change 1 euro dollar, you get 1.2850 dollars in exchange.
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