Foreign Exchange Market

Péter Kálmán (), Eszter Makay () and Daniella Tóth ()
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Péter Kálmán: Magyar Nemzeti Bank
Eszter Makay: Magyar Nemzeti Bank
Daniella Tóth: Magyar Nemzeti Bank

MNB Handbook, 2016, vol. 1, issue 7, 56

Abstract: Foreign currency is a receivable pertaining to a specific foreign legal tender, and the exchange of foreign currencies represents the world’s largest financial market (with daily turnover of USD 5.1 trillion according to the latest BIS survey1). Foreign currency can be traded on the spot market or on the derivatives market for the specific currency (such as the forward market, options etc.). There is continuous trading on both the spot and derivatives markets at global financial centres 24 hours a day, five days a week.

Keywords: exchange; market (search for similar items in EconPapers)
Date: 2016
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