Forex, also known as foreign exchange or FX

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Forex, also known as foreign exchange or FX, is the process of buying and selling different currencies on the foreign exchange market. The goal of forex trading is to buy a currency pair at a low price and then sell it at a higher price to make a profit. The value of a currency is determined by factors such as its economic strength, political stability, and interest rates, which can all affect its demand and exchange rate. Many people and businesses engage in forex trading as a way to make money, hedge against currency risk, or speculate on the movement of exchange rates.