The foreign exchange market (forex, FX, or currency market) is a worldwide decentralized over-the-counter financial market for the trading of currencies. Financial centers around the world function as anchors of trading between a wide range of different types of buyers and sellers around the clock. The purpose of the foreign exchange market 'Forex' is to assist international trade and investment. The foreign exchange market allows businesses to convert one currency to another foreign currency. For example, it permits a U.S. business to import European goods and pay Euros, even though the business's income is in U.S. dollars. In this course all aspects of the forex market are covered, including its organisational structure, cross rates, spreads, quotation conventions, the role and importance of exchange rates, its participants, its relationship with the balance of payments and the money stock, and other relevant issues.