Western Union's role in foreign exchange trading is best described as ________.

Question

Quizplus · Accepted Answer

Western Union's primary role is to transfer currency from one country to another, making it easier for people to send money to family and friends or conduct business transactions across borders. While they may set exchange rates for their services, they are not responsible for setting fair exchange rates in multiple currencies. Additionally, while they do transfer Mexican pesos from the United States to Mexico, they also transfer other currencies between numerous countries worldwide. Finally, Western Union is not the exclusive handler of all money transfers in North and South America.

Western Union's Role in Foreign Exchange Trading Is Best Described