Forex, or foreign exchange, is the global marketplace for trading currencies. Participants exchange one currency for another, hoping to profit from changes in exchange rates. It’s one of the largest financial markets, with traders, banks, and institutions involved. Exchange rates fluctuate due to economic and geopolitical factors, providing opportunities for speculation and investment. Understanding and monitoring this rate is fundamental in the Forex market, where traders buy and sell currencies based on their expectations of future exchange rates. It’s a key factor in international finance.