Foreign Exchange (Forex) currency is something that is sought after by every potential international traveller. Foreign exchange currency transactions encompass aspects like buying and selling at determined prices at a given point in time. It is typically a transaction that involves an individual buying a certain proportion of foreign currency in exchange of selling some proportion of another. The rates may keep varying as per their international trade market value.
Forex is not just limited to purchase of foreign currencies in small proportions by travellers only, but it also involves dealers trading in large proportions, potentially involving millions of dollars. It is also important to note when making forex transactions that how widely it is accepted locally and worldwide. Today, the most widely accepted currencies in the world are US dollar (the most traded currency in the world), Euro (second most traded currency in the world after US dollar), Japanese Yen (the most traded currency from Asia), Great British Pound a.k.a. Sterling Pound, Swiss Franc and Canadian dollar a.k.a. Loonie.