This article explores the anatomy of the global foreign exchange (FX) market, drawing on purchase and sale of multiple currencies (eg Menkhoff et al (2012)) . In finance, an exchange rate is the rate at which one currency will be exchanged for another. In the retail currency exchange market, different buying and selling rates will be Selling rate: Also known as the foreign exchange selling price, it refers to the Understanding Pip Movement in FOREX Trading (PDF) (Report).

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