The foreign exchange market is organized as an over-the-counter market in which deposits denominated in foreign currencies are bought and sold.

Question

Quizplus · Accepted Answer

The foreign exchange market is an over-the-counter market where participants can buy and sell currencies directly with each other without a central exchange. Deposits denominated in foreign currencies may also be bought and sold in this market.

The Foreign Exchange Market Is Organized as an Over-The-Counter Market