My Great Forex Exchange Item
There is no single unified foreign exchange market.
Due to the over-the-counter (OTC) nature of currency markets, there are rather a number of connected marketplaces, where different currency tools are exchanged.
This implies that there is no such thing as a one dollar rate – but rather a number of different prices, depending on what bank or market maker are buying and selling.
In practice the prices are often very close, otherwise they could be taken advantage of by arbitrageurs.
