The international currency market Forex(FOReign Exchange Market) is an international exchange currency, as well as the international currency market rate which is called foreign exchange rates.
FOREX established in January 1976 in Kingston, Jamaica at a meeting of ministers members of the IMF. This meeting introduced a new structure for the international financial system, in the form of currency flowing freely.
Exchange rate (exchange rate) is a unit of currency exchange rate of a country against another country. Example, when the exchange rate EUR / USD rate is 1.2505, it means that one Euro is exchanged for 1.2505 U.S. dollars. Exchange of any currency is usually composed of two parts: the price Bid (buy) and ask price (sale), for example EUR / USD.
Bid price is the unit of currency (U.S. dollars) will be obtained when selling one unit of base currency (Euro).
Ask the price of a unit of currency (U.S. dollars) to be paid, to obtain one unit of base currency (Euro).
Spread is the difference between the Bid and Ask. Value of 1.0 Lot for different currency pairs