Foreign exchange (forex or FX) market (外汇市场 wàihuì shìchǎng) is an over-the-counter (OTC) market where traders can buy, sell, and exchange currencies. This marketplace determines the exchange rate for currencies of different countries.
- 外 (wài) as in outside (外部 wàibù or 外面 wàimiàn) or except (除外 chúwài).
- 汇 (huì) as in remit (汇款 huìkuǎn) or wire transfer (电汇 diànhuì).
- 市 (shì) as in city (城市 chéngshì) or market (市场 shìchǎng).
- 场 (chǎng)as in playground (操场) or workplace (工作场所 gōngzuò chǎngsuǒ).
Foreign exchange market as in:
- International foreign exchange market (国际外汇市场 guójì wàihuì shìchǎng).