forex
Pronunciation: [ˈfɔrɛks]
Word
Context: “finance”
(noun) Forex is short for foreign exchange. It’s the market where people buy and sell different currencies from around the world. Imagine you have dollars and want to trade them for euros. That’s what happens in the forex market.
Example
I made a good profit by trading in the forex market last week.
Example
She lost money because she didn’t understand how the forex market works.
Example
Have you ever thought about trading currencies in the forex market?
Context: “economics”
(noun) Forex also refers to the rates at which one currency can be exchanged for another. For example, if one dollar is worth 0.85 euros, that is a forex rate.
Example
The forex rate between the dollar and the euro fluctuates every day.
Example
The forex rate didn’t favor tourists this year; they lost money when converting currencies.
Example
What is the current forex rate for US dollars to British pounds?
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