FX transaction

FX Transactions refer to foreign exchange transactions or currency conversions. These transactions involve converting one currency into another at an agreed-upon exchange rate, allowing merchants and buyers to conduct international transactions in their preferred currencies.

Key Aspects of FX Transactions

  • Currency Conversion: FX transactions facilitate the conversion of funds from one currency to another, enabling cross-border payments and transactions.
  • Exchange Rate: The exchange rate is the rate at which one currency is exchanged for another. It may fluctuate in real-time based on market conditions.
  • Currency Pairs: In FX transactions, currencies are traded in pairs, such as USD/EUR (US Dollar/Euro) or USD/JPY (US Dollar/Japanese Yen).