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:
“Go to foreign countries and you will get to know the good things one possesses at home.”
—Johann Wolfgang Von Goethe (1749–1832)
“My life is superficial, takes no root in the deep world; I ask, When shall I die, and be relieved of the responsibility of seeing a Universe which I do not use? I wish to exchange this flash-of-lightning faith for continuous daylight, this fever-glow for a benign climate.”
—Ralph Waldo Emerson (1803–1882)
“My gowns were gorgeous, always low-cut, very décolleté. I wore hardly any makeup, just some lipsticks, that’s all. No lights. Just a baby spot. I wouldn’t have any entrance. They’d play the intro in the dark, and a spot would come on, and there I’d be.”
—Richard Brooks (1912–1992)