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What is forex department?

Updated: 9/20/2023
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12y ago

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The forex department is responsible for dealing with and managing the purchase and sale of foreign currencies and is a highly specialized business. All banks, private or state owned, have foreign exchange departments that work closely with the foreign exchange markets in each country trading with other financial centers worldwide. The greatest share of currency trading is specific to a banks own account although a small proportion will be on behalf of its personal customers

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