The act of exchanging the legal tender
of one country for another. Customer - The party that executes an
Agreement with FXAsia. Customer Account Application - The FXAsia
Customer Account Application, including all applicable addenda
thereto. The Customer Account Application is incorporated by
reference into and constitutes an integral part of the Customer
Agreement. Currency Pair - The two currencies that make up a foreign
exchange rate. IE: USD/CHF.
In finance, the exchange rate between two currencies specifies how
much one currency is worth in terms of the other. For example an
exchange rate of 120 Japanese Yen to the Dollar means that ¥120 is
worth the same as $1. An exchange rate is also known as a foreign
exchange rate, or FX rate. The Currency Market or Foreign Exchange
Market is the largest market in the world. By some estimates, about
$2 trillion worth of currency changes hands every day.