Forex (Foreign Exchange)

Also known as: fx, foreign exchange, currency market

The foreign exchange (forex/FX) market is where currencies are traded — the largest market on earth, running 24 hours a day. Currencies trade in pairs (USD/INR = 83 means $1 = ₹83) because value is only relative. The rupee’s value affects import costs, inflation, FII flows and returns on international assets.