My New Forex Exchange Piece
There is no exclusive unified foreign exchange market.
Due to the over-the-counter (OTC) nature of currency markets, there are rather a number of interconnected marketplaces, where different currency tools are traded.
This implies that there is no such thing as a individual dollar rate – but rather a number of different rates, depending on what bank or market maker are trading.
In practice the prices are often very close, otherwise they could be exploited by arbitrageurs.
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