Foreign Exchange (FOREX)

Foreign Exchange→buying and selling of currency
EX) In order to purchase souvenirs in France, it is first necessary for America to sell (supply) their dollars and buy (demand) Euros.

*The exchange rate (e) is determined in foreign currency markets
EX) The current exchange rate is approximately 77 Japanese yen to 1 U.S. dollar.

*Simply put: exchange rate is price of a currency
*do not try to calculate the exact exchange rate
*increase in demand of Euros relative to U.S. dollar