Hi,
In this lesson “School of Pipsology → Preschool → How to Make Money Trading Forex” , it’s saying about “The forex (also known as FX or foreign exchange) market refers to the global marketplace where banks, institutions, and individuals speculate on the exchange rate between fiat currencies.”.
What are fiat currencies ?
Thank you !
fiat currencies are government-issued currencies that are not backed by a physical commodity, such as gold or silver, but rather by the government that issued it. They are the most commonly traded currencies in the forex market, and they are also used to facilitate international trade and investment.
This might help:
Thank you very much. Also I found Forexpedia, that can help me in this journey of learning Forex.
This term refers to the government based currencies.
Fiat money is a government-issued currency that is not backed by a physical commodity, such as gold or silver.
should we all just keep saying the same thing in spite of the question having been answered 4 times?
or should we try something different, just for a change?
fiat money is what you pay for the fiat 500 city car hybrid: it has a 1.0 litre petrol engine and an electric one too, but that’s under 80kW and doesn’t have a great range
Great question! In short, “fiat currencies” refer to currencies that are not backed by a physical commodity such as gold or silver, but rather by a government’s declaration that it has value. This means that their value is not derived from any intrinsic worth, but rather from their usefulness as a medium of exchange. Examples of fiat currencies include the US dollar, Euro, Japanese yen, and many others.
I like that lol.
Did you not think of looking it up for yourself, first?