Forex, short for foreign exchange, is the global marketplace for trading national currencies against one another. It operates 24 hours a day, five days a week, allowing traders to buy, sell, and exchange currencies from around the world. The forex market is the largest financial market, with a daily trading volume exceeding $6 trillion, making it a vital component of the global economy. Traders in the forex market include banks, financial institutions, corporations, and individual investors. They engage in currency trading for various reasons, such as hedging against currency risk, speculating on price movements, or facilitating international trade. The market is influenced by factors like economic indicators, geopolitical events, and interest rates.