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The role of money in foreign transactions.
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[QUOTE="Kingsley, post: 217609, member: 30278"] That is true, money is the only generally accepted medium of exchange in the world. The world generally accepted is what really makes money very unique from all other forms of payment. Money is indeed unique because it also used as a standard of measurement of items, everything is measured by money. Money again is used as a store of value. So when we look at all the qualities of money we will realise that there is nothing else that can really serve the purpose that money is playing currently. Now when it come to international or foreign trade you will realise that the only way for you to trade in the international community you will surely require mone to serve as the medium of exchange. Even in the when we look at forex trading what we simple do there in the market is buying one form of currency after converting from one from of currency to another. And we will the price no the currency appreciate when then sell to make profit, but if the trade goes against you then you might suffer some loses. The forex market has really made alot of people very comfortable all thanks to money. [/QUOTE]
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