Forex exchange market operation and structure.

Forex market is a market where foreign currency transactions occur. In other words, it is a market in which national currencies are bought and sold against each other.  The primary function of the foreign exchange market is the transfer of purchasing one currency from another currency.  Generally Forex exchange market is an over the counter market and there is physical place required where the participants meet to execute their deals. Their participants like bank, brokers, retail foreign exchange broker, money transfer/remittance companies, non-bank companies and agencies are connected to each other through all kind of communication like telephone and satellite communication network.

 Below are the eight major currencies which take place on forex trade.

1. American Dollar (USD)

2. New Zealand Dollar

3. Canadian Dollar

4. Australian Dollar

5. European Currency Unit (Euro)

6. Japanese Yen

7. British Pound

8. Swiss franc

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