Currency exchange is the process of converting one currency into another currency at an agreed-upon rate. This service is essential in facilitating international trade and travel, allowing individuals and businesses to transact in different currencies. The exchange rate, which fluctuates based on market conditions, demand, and supply for each currency, determines how much of one currency is needed to purchase another. Currency exchange can occur through various means, including banks, currency exchange offices, and online platforms. It plays a critical role in the global economy, influencing prices, trade flows, and investment decisions. Additionally, currency exchanges may include transactions involving foreign exchange (forex) markets where currencies are traded actively.
Market Overview The Japanese yen is currently hovering around 154.80 against the dollar. During the trading session, it experienced a dip, dropping to 154.47, but the declines halted just shy…