Foreign
exchange - Travel money companies in UK
Currency-literally foreign money-used in settlement
of international trade between countries. Trading in foreign
exchange is the means by which values are established for
commodities and manufactured goods imported or exported between
countries. Creditors and borrowers settle the resulting international
trade obligations, such as bank drafts, bills of exchange,
bankers' acceptances, and letters of credit, by exchanging
different currencies at agreed upon rates. |
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