My Tough Forex Exchange Item
There is no exceptional unified foreign exchange market.
Due to the over-the-counter (OTC) nature of currency markets, there are rather a number of connected marketplaces, where different currency tools are exchanged.
This means that there is no such thing as a same dollar rate – but rather a number of different prices, depending on what bank or market maker are trading.
In practice the rates are often very close, otherwise they could be abused by arbitrageurs.
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