Short for foreign exchange; the global market where people and companies buy and sell different countries' currencies.
Abbreviation formed from 'foreign exchange' that became standardized in financial terminology during the late 20th century. The term itself evolved as international trade expanded and currency trading became a specialized, high-volume market.
Forex is the world's largest financial market—trading over $6 trillion per day—yet most people have never heard of it. When you travel abroad and exchange money, you're participating in the same market that billion-dollar hedge funds use, just at a tiny scale.
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