We often hear this on news and we often read them on newspapers. But only few of us have the idea on why we should be aware of Foreign Exchange rates or FOREX. But more importantly, we should first be oriented with what is this all about. When we speak of FOREX, we are surely dealing with matter that involves money.
But this matter is not just confined in one place because as the name suggest, this is among or between countries and their currencies being exchanged at a various rate depending on every single aspect that the world market may implore.
Putting in simple words, the Foreign Exchange rate is the term used to the amount that is the equivalent of one currency in terms of other currencies. For example, a single American Dollar, if converted into Philippine Peso, would yield the amount Php 48.00+ at the current rate today. If a Euro is exchanged in the same, it would give you the amount Php 68.00+. What is important in here is that we are able to know the discrepancy between the currency and that’s it. It never has the intention to promote the other country above the other. The primary aim of this is the educate people about the current exchange rate of money currencies all over the world. This would not solely determine now well or ill the economy of one country is although it may play a vital role in doing so.
We must be aware of the fact that Foreign Exchange Rates are things that we should pay attention to. If we don’t, we will be susceptible to tricks played by individuals that might be taking advantage of your ignorance about the rates. They could be making more money out of you. Do you want that to happen? Please be well informed and oriented about what FOREX Trading is and make a difference