When people hear of currencies changing, they are often confused. When they hear of the dollar gaining or losing on other types of currency, that do not realize that the currency is actually being bought, sold, and traded. The forex market, also known as the foreign exchange market, is a way for companies, banks, and individuals to trade currencies to try to gain on their initial investments. The forex market is different and unique; the three markets (US, Europe, Asia) have at least one running at all times during the weekdays; this makes this a 24 hour a week-day market, working constantly on the week days to make sure currencies can be traded. All currencies have the opportunity to be traded, but there are obviously major players that are traded the most on the forex market. There are 10 players on the market that find themselves a part of a majority of the trades that happen on the forex market.
The Norwegian Krone, the Hong Kong Dollar, and the Swedish Krona
The Norwegian Krone is the number 10 most traded currency in the forex market, as it is a part of nearly 1.5 percent of the daily transactions that happen. The Hong Kong dollar is the number 9 most traded currency as far as the forex market is concerned. Hong Kongs Dollar is a part of nearly 2 percent of the daily transactions. The Swedish Krona is a part of over 2 percent of the daily trades on the forex market. (continue reading…)
