What is foreign exchange? Basic information you should know
Foreign exchange is a term used to refer to the means used in international transactions. Let’s find out more details about this concept here. In business, we often hear about the phrase forex , many people often think of foreign exchange as a word with a similar meaning to foreign currency. However, this is actually a wrong thought. The following article will provide you with a correct understanding, fully understanding what the word forex is? What is foreign exchange? Foreign exchange (forex) is a term used to refer to the means used in international transactions (International transaction) including: Foreign Currency: Foreign currency is a foreign currency or a common currency of a group of countries. Payment instrument in foreign currency: This is a payment instrument recorded in foreign currency such as: Check (check), bill of exchange (Bill of Exchange), promissory Note, bank card (Card Bank), Transfer Vouchers with prices in foreign currencies such as: Government Bonds, Corpora
