What Is Foreign Exchange Rate Market? The foreign exchange market is an over-the-counter (OTC) marketplace that determines the exchange rate for global currencies. It is, by far, the largest financial market in the world and is comprised of a global network of financial centers that transact 24 hours a day, closing only on the weekends.
Which Of The Following Best Defines Medium Of Exchange? Money is called medium of exchange because money is a widely accepted token that can be used for exchange of any good or service. Which of the following is the best medium of exchange? A medium of exchange eases the trade of goods and services. The
Which Describes How Money Functions As A Medium Of Exchange? First, money serves as a medium of exchange, which means that money acts as an intermediary between the buyer and the seller. … To serve as a medium of exchange, money must be very widely accepted as a method of payment in the markets for