Currencies of different countries are traded in the so-called
A) money market.
B) foreign exchange market.
C) capital account.
D) current account.

Question

Quizplus · Accepted Answer

Currencies of different countries are traded in the foreign exchange market, which is also known as the forex market. Participants in this market include banks, businesses, governments, and individuals who exchange currencies for a variety of reasons including trade, tourism, and speculation. The foreign exchange market is the largest financial market in the world, with an average daily turnover of over $5 trillion.

Currencies of Different Countries Are Traded in the So-Called