Concerning the foreign exchange market, which of the following is FALSE?
A) Most foreign exchange transactions involve the transfer of electronic balances between commercial banks or foreign exchange dealers.
B) The worldwide amount of foreign exchange transactions is about $4 trillion a day.
C) Unlike the stock or commodity exchanges, the foreign exchange market is not an organized structure.
D) Virtually all foreign exchange trading occurs among banks located in New York City.

Question

Quizplus · Accepted Answer

Option D is false because while New York City is a major center for foreign exchange trading, it is not the only location where trading occurs. Foreign exchange trading takes place globally through electronic networks that link buyers and sellers from around the world.

Concerning the Foreign Exchange Market, Which of the Following Is