Foreign Exchange Market Assignment Help
Our forex assignment help experts define the concept of Foreign Exchange Market (also abbreviated as forex, currency market or FX) as international but decentralized financial market meant for trading of currencies. There are number of financial centers worldwide that function as anchors of business and trading. This trading is carried out between a huge range of sellers and buyers round the clock, with weekends being an exception. The relative values of various currencies are determined by the foreign exchange market.
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What is the need for foreign exchange?
Foreign exchange market allows businesses to convert from one currency to another currency. Here is an example explained by our forex assignment help experts:
FX allows a US business to import goods from the UK and pay Pound Sterling in spite of the business’ income being in US Dollars. Forex concept even supports speculation. It also facilitates carry trade as per which investors borrow low-yielding currencies and then lend, which means invest in high-yielding currencies. This carry trade process, however, results in loss of competitiveness in few nations.
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How does a foreign exchange market operate?
According to our forex assignment help experts, in a usual foreign exchange transaction, a party buys a quantity of one particular currency by paying a quantity of another currency. This modernized foreign exchange market began to take shape during the 1970s when nations gradually hoped on to floating exchange rates from the earlier exchange rate regime that remained rigid as per the Bretton Woods System.
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Special features of foreign exchange market
Our forex assignment help experts define some features that make the concept of foreign exchange market special for investors:
- Its enormous trading volume that represents the largest asset class in the world, resulting in high liquidity.
- Its geographical distribution on a wide scale.
- Its continuous operation for 24 hours a day, five days in a week, barring weekends. The operation is precisely trading from 22:00 GMT on Sundays (Sydney) up to 22:00 GMT on Fridays (New York). Our forex assignment help experts can throw more light on this if you avail our forex assignment help service.
- The low margins regarding relative profit compared to other markets based on fixed income.
- The usage of leverage for enhancing profit and loss margins and also with respect to account size.
These features are discussed in details by our forex experts with students when they take forex assignment help from us.
Analysis of foreign exchange market by banking institutions
The forex market has been referred as the market that can be closest to the model of perfect competition. According to analysis of Bank for International Settlements, the preliminary results at a global level from 2013 Triennial Central Bank Survey regarding OTC Derivatives and Foreign Exchange, markets related activity show that trading within foreign exchange markets averaged $5.3 trillion per day in April 2013. This result is up from $4.0 trillion in April 2010 and even $3.3 trillion in April 2007. It is also observed that foreign exchange related swaps had been the most actively traded factors in April 2013 at $2.2 trillion per day. This is followed by spot trading at $2.0 trillion.
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As per the Bank for International Settlements, as of April 2010, the average daily turnover within global foreign exchange markets has been estimated at $3.98 trillion which is a growth of approximately 20 percent upon the $3.21 trillion daily volume as of April 2007. A few companies that specialize upon foreign exchange market had put the average daily turnover in an excess of US $4 trillion. The $3.98 trillion break-down is stated in the following manner:
- $1.490 trillion within spot transactions
- $475 billion within outright forwards
- $1.765 trillion within foreign exchange swaps
- $43 billion of currency swaps
- $207 billion within options and various other products
You can also do your own analysis if you opt for our forex assignment help service.
Economic factors that influence foreign exchange market
The economics factors that influence foreign exchange markets are defined by our forex assignment help experts. If you counter any trouble with the concepts, you can always contact our forex assignment help experts for further online forex assignment help.
- Economic policy – This factor is spread openly by central banks and government agencies.
- Economic conditions – This factor is usually revealed through economic reports.
- Other economic indicators – They include factors like inflation levels and productivity of an economy.
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Currency distribution as per the global forex market turnover
Our forex assignment help experts share data of some nations whose currencies have been most traded by value. You can understand the factors behind this by availing our forex service.
- United States Dollar: Its ISO 4217 Code is USD and its daily percentage share as of April 2013 is 87 percent
- Euro: Its ISO 4217 Code is EUR and its daily percentage share as of April 2013 is 33 percent
- Japanese Yen: Its ISO 4217 Code is JPY and its daily percentage share as of April 2013 is 23 percent
- Pound Sterling: Its ISO 4217 Code is GBP and its daily percentage share as of April 2013 is 12 percent
- Australian Dollar: Its ISO 4217 Code is AUD and its daily percentage share as of April 2013 is 8.6 percent
- Swiss Franc: Its ISO 4217 Code is CHF and its daily percentage share as of April, 2013 is 5.2 percent
- Canadian Dollar: Its ISO 4217 Code is CAD and its daily percentage share as of April, 2013 is 4.2 percent
- Mexican Peso: Its ISO 4217 Code is MXN and its daily percentage share as of April, 2013 is 2.5 percent
- Chinese Yuan: Its ISO 4217 Code is CNY and its daily percentage share as of April, 2013 is 2.2 percent
- New Zealand Dollar: Its ISO 4217 Code is NZD and its daily percentage share as of April, 2013 is 2.0 percent
- Swedish Krona: Its ISO 4217 Code is SEK and its daily percentage share as of April, 2013 is 1.8 percent
- Russian Ruble: Its ISO 4217 Code is RUB and its daily percentage share as of April, 2013 is 1.6 percent
- Hong Kong Dollar: Its ISO 4217 Code is HKD and its daily percentage share as of April, 2013 is 1.4 percent
- Singapore Dollar: Its ISO 4217 Code is SGD and its daily percentage share as of April, 2013 is 1.4 percent
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