The currency market is a vital global marketplace where individuals and companies can buy and sell different currencies. It is commonly referred to as the foreign exchange market, and its significance lies in facilitating international trade and the financial sector. The market operates on two levels, namely, the Interbank Market and the Over-the-counter Market. The Interbank Market comprises some of the world's largest banks, which engage in the exchange of currencies and conduct large-scale trades among themselves. Conversely, the Over-the-counter Market is accessible to anyone who wishes to participate in currency trading through the utilization of a broker and an online trading platform.

Functions Of The Currency Market
The currency market plays a pivotal role in international trade and finance, serving various functions that underpin global economic activities. Firstly, it facilitates the transfer of funds, including foreign currencies, between different countries, thereby enabling the settlement of payments across borders. Secondly, the currency market provides a credit function to buyers of goods and services from foreign countries, allowing them to obtain temporary loans to finance their purchases. This, in turn, promotes the smooth flow of goods and services between nations. Thirdly, the currency market serves a hedging function, helping businesses and investors to manage currency risk by locking in exchange rates for future transactions. Through these functions, the currency market helps to mitigate risks associated with currency fluctuations, promote international trade and investment, and facilitate economic growth and development.

Types Of Currency Markets:
Spot Markets: Immediate execution of transactions with payment settlement in one or two days.
Forward Markets: Agreement to execute a trade at a predetermined price and quantity at a later time.
Future Markets: Centralized marketplace for standardized contracts (futures contracts) for future deliv

The currency market is a vital global marketplace where individuals and companies can buy and sell different currencies. It is commonly referred to as the foreign exchange market, and its significance lies in facilitating international trade and the financial sector. The market operates on two levels, namely, the Interbank Market and the Over-the-counter Market. The Interbank Market comprises some of the world's largest banks, which engage in the exchange of currencies and conduct large-scale trades among themselves. Conversely, the Over-the-counter Market is accessible to anyone who wishes to participate in currency trading through the utilization of a broker and an online trading platform.

Functions Of The Currency Market
The currency market plays a pivotal role in international trade and finance, serving various functions that underpin global economic activities. Firstly, it facilitates the transfer of funds, including foreign currencies, between different countries, thereby enabling the settlement of payments across borders. Secondly, the currency market provides a credit function to buyers of goods and services from foreign countries, allowing them to obtain temporary loans to finance their purchases. This, in turn, promotes the smooth flow of goods and services between nations. Thirdly, the currency market serves a hedging function, helping businesses and investors to manage currency risk by locking in exchange rates for future transactions. Through these functions, the currency market helps to mitigate risks associated with currency fluctuations, promote international trade and investment, and facilitate economic growth and development.

Types Of Currency Markets:
Spot Markets: Immediate execution of transactions with payment settlement in one or two days.
Forward Markets: Agreement to execute a trade at a predetermined price and quantity at a later time.
Future Markets: Centralized marketplace for standardized contracts (futures contracts) for future deliv