I think if you want to send $ 1000 out today, you will have to take about 70000rs in the bank. Suppose you give 70k to the bank and take 1000 dollars. So we can say that you sold 70,000rs to the bank and bought $ 1,000. Right ? What did the bank do? The bank sold you $ 1000 and bought 70,000 rs from you.
Friends, what happens in the rest of the markets, whether it is a stock market or a commodity market, if you go to the currency in them, then in return you either get a stock or you get a commodity or something.But when you take the currency in the currency market, you also get currency in return.
So if we give the definition of trade technically, where there is a buyer and there is a seller and there is a trade between the two. Right? But if you really see friends in the currency market, then there is nothing to buy or sell, it gets another currency instead of one currency.
Means exchange of currency. This is called forex. FOREX = FOREIGN CURRENCY EXCHANGE.
Friends, that's all for today. Next we will understand what are the pip, bid, ask price and lot sizes in Forex? Until then, keep learning, keep moving forward and stay with us
GOD BLESS YOU...
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