Foreign Exchange

Foreign exchange is the exchange of one currency for another or the conversion of one currency into another currency.Foreign exchange also refers to the global market where currencies are traded virtually around the clock. The largest trading centers are London, New York, Singapore and Tokyo. The term foreign exchange is usually abbreviated as “forex” and occasionally as “FX.”

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Forex Cards

A forex card is a type of prepaid debit card. They are issued by banks such as HDFC Bank, Visa, Bank of America, Fairfx, and ICICI Bank. Since the user has already prepaid for the card, funds are issued in the local currency of the country. This saves forex cardholders from having to convert their currency.Forex cards are safe, convenient and cost-effective.

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