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Foreign Exchange Market

Author

Listed:
  • Péter Kálmán

    (Magyar Nemzeti Bank)

  • Eszter Makay

    (Magyar Nemzeti Bank)

  • Daniella Tóth

    (Magyar Nemzeti Bank)

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.

Suggested Citation

  • Péter Kálmán & Eszter Makay & Daniella Tóth, 2016. "Foreign Exchange Market," MNB Handbook, Magyar Nemzeti Bank (Central Bank of Hungary), vol. 1(7), pages 1-56.
    • Handle: RePEc:mnb:handbk:v:1:y:2016:i:7:p:56
    as

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    File URL: https://www.mnb.hu/letoltes/mnb-oktatasi-fuzetek-7-devizapiac-eng-0309.pdf
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    More about this item

    Keywords

    exchange market;

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