Foreign Trade and Foreign Exchange:
International Trade also called foreign trade is the exchange or purchase and sale of goods, services or performance and capital across one country to another country's borders or territories. When one country shares its resources such as goods, services, performance etc. with another country then such convention is called international trade or foreign trade. It allows greater competition platform and more competitive pricing in the market. In foreign trade or international trade different countries involved and dealt with their goods, and other services or performance.
Foreign Exchange, also called forex, is the foreign currency exchange market that is conversion of one country's currency into another country's currency. The forex market determines foreign exchange rates for every currency. In foreign exchange market, different countries involved with different currencies. In forex market one currency is exchanged for another currency (e.g. Euro to Yen, Yen to Euro, USD to GBP, Chinese Yuan to USD, Indian Rupee to Chinese Yuan, etc.).
Published Date: 08/07/2023
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