foreign exchange
noun
FINANCE ukus( abbreviation forex) [ U ]
the buying and selling of currencies:
foreign exchange controls/intervention/restrictions The removal of foreign exchange controls allowed residents to purchase and hold foreign currency legally.
foreign exchange trading/sales/transactions Hong Kong is one of the largest centres for foreign exchange trading.
[ U ]
money that you get when you sell one currency and buy another:
foreign exchange earnings/gains/losses The country's tourism industry accounts for 50% of its foreign exchange earnings.
(also foreign exchange market)
a financial market in which foreign currencies are bought and sold:
in/on the foreign exchanges The pound had a better day on the foreign exchanges, gaining more than a cent to $1.5828 against the dollar.