A foreign exchange spot transaction, also known as FX spot, is an agreement between two parties to buy one currency against selling another currency at an agreed price for settlement on the spot date. The exchange rate at which the transaction is done is called the spot exchange rate. As of 2010, the average daily turnover of global FX spot transactions reached nearly 1.5 trillion USD, counting 37.4% of all foreign exchange transactions.
Read more about Foreign Exchange Spot: Settlement Date, Execution Methods
Famous quotes containing the words foreign, exchange and/or spot:
“Since every effort in our educational life seems to be directed toward making of the child a being foreign to itself, it must of necessity produce individuals foreign to one another, and in everlasting antagonism with each other.”
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“I sometimes feel a great ennui, profound emptiness, doubts which sneer in my face in the midst of the most spontaneous satisfactions. Well, I would not exchange all that for anything, because it seems to me, in my conscience, that I am doing my duty, that I am obeying a superior fatality, that I am following the Good and that I am in the Right.”
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“it was my birthday, and a candle
burnt a sore spot on my finger, and I was told to be happy,”
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