Forex is short for foreign exchange, but the actual asset class we are referring to is currencies.
Forex is something like going to a foreign exchange and exchanging one country's currency into another country's currency.
Due to the fact that business is global there is a need to transact with most other countries in their own particular currency.
This service has been taken up by the commercial and investment banks on behalf of their clients, but has simultaneously provided a speculative environment for trading one currency against another using the internet.
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