What is FOREX?

"Forex" stands for foreign exchange; it's also known as FX.
In a forex trade, you buy one currency while simultaneously selling another
(That is, you're exchanging the sold currency for the one you're buying)

Currencies trade in pairs, like the

• Euro-US Dollar (EUR/USD)
• US Dollar-Japanese Yen (USD/JPY)
• & Others

The world's most traded market, trading 24 hours a day with average daily turnover of US$3.2 trillion, forex is the most traded market in the world.

A true 24-hour market from Sunday 5 PM ET to Friday 5 PM ET forex trading begins in Sydney, and moves around the globe as the business day begins, first to Tokyo, London, and New York.

Why Trade Currencies?

Daily turnover in the world's currencies comes from two sources:

• Foreign trade (5%) - Companies buy and sell products in foreign countries, plus convert profits from foreign sales into domestic currency
• Speculation for profit (95%)

For the Latest Rates of currencies pairs, you can check it at
http://www.bloomberg.com/markets/currencies/fxc.html