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English definition of “foreign exchange”

foreign exchange

noun     ( abbreviation forex) FINANCE
[U] the buying and selling of currencies : foreign exchange controls/intervention/restrictions The removal of foreign exchange controls allowed residents to purchase and hold foreign currency legally .foreign exchange trading/sales/transactions Hong Kong is one of the largest centres for foreign exchange trading .
[U] money that you get when you sell one currency and buy another: foreign exchange earnings/gains/losses The country's tourism industry accounts for 50% of its foreign exchange earnings .
(also foreign exchange market) a financial market in which foreign currencies are bought and sold : in/on the foreign exchanges The pound had a better day on the foreign exchanges , gaining more than a cent to $1.5828 against the dollar .
(Definition of foreign exchange noun from the Cambridge Business English Dictionary © Cambridge University Press)
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