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"Forex" stands for foreign exchange; it's also known as FX. In a Forex trade, you buy one currency while simultaneously selling another. The world's most traded market, trading 24 hours a day With average daily turnover of US$3.2 trillion, Forex is the most traded market in the world. A true 24-hour market from Sunday 10 PM GMT to Friday 10 PM GMT, Forex trading begins in Sydney, and moves around the globe as the business day begins, first to Tokyo, London, and New York. Unlike other financial markets, investors can respond immediately to currency fluctuations, whenever they occur - day or night. More Info The Federal Reserve Bank of New York carries out foreign exchange-related activities on behalf of the Federal Reserve System and the U.S. Treasury. In this capacity, the Bank monitors and analyzes global financial market developments, manages the U.S. foreign currency reserves, and from time to time intervenes in the foreign exchange market. The Bank also executes foreign exchange transactions on behalf of customers.