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739 B
Vendored
739 B
Vendored
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Forex trading takes place in the foreign exchange market. Currency is significant because it allows us to buy goods and services both locally and internationally. To undertake international trade and business, international currencies must be exchanged.
If you live in the United States and wish to purchase goods from Europe, you or the firm from which you purchase the goods must pay in euros (EUR). This means that the importer in the United States would have to convert the same amount of dollars (USD) into euros.
The same is true when it comes to traveling. Because euros are not accepted in China, visitors must exchange euros for the local currency.
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