My Expert Forex Exchange Item
There is no exclusive unified foreign exchange market.
Due to the over-the-counter (OTC) nature of currency markets, there are rather a number of related marketplaces, where different currency instruments are traded.
This means that there is no such thing as a same dollar rate – but rather a number of different rates, depending on what bank or market maker are buying and selling.
In practice the prices are generally very close, otherwise they could be used by arbitrageurs.
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