Doing the numbers
There is no need to mention that if you are doing business across borders you probably need to manage foreign currency issues. Each day, an average of $1 trillion changes hand in the foreign exchange markets. There is no formal trading floor, as there are with stock exchanges and cattle markets. Currency trading takes place 24 hours a day between bankers over telephone and computer links (good business for telecoms providers).
Forex dealers have a rich jargon of their own. Fortunately, you will be spared much of this because you will typically transact with your bankers or specialist currency brokers and they will communicate with the forex people. However, for your protection, buzz words are highlighted in the following pages. ...
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