Foreign exchange is an Over-the-Counter market, meaning that OTC stocks are not traded on the stock exchange, and they therefore have no reporting requirements. In simple terms, OTC contracts are nothing more than two parties agreeing on how a trade will be settled. Forex, the the foreign exchange market, is one such OTC contract, in which brokers deal directly with each other. For both Forex traders, as well as international businesses and travelers, currency conversion is extremely important. The XE Currency Converter is one of the most popular online currency tools, with a reputation built on the accurate currency exchange information it provides.
The name XE is actually a shortened form of the original name of the company, Xenon Laboratories. Founded in 1993, this company has remained focused its mission, that of currency conversion. It is for this reason that their website remains largely clutter-free, with a notable lack of advertisements and gimmicks. The converter is simple to use, and XE currency rates give reliable conversion for more than 180 world-wide currencies. Obsolete currencies are marked with an asterisk. For more currency information, the full XE Universal Currency Converter can access any currency in the world. An additional feature is that the converter has access to historical data as well. For Forex traders, this is an opportunity to see past trends and performance of various world currency, which can be important for making the buy or sell decisions. One of the best features is that access to the XE currency rates is free.
The XE currency rates appear on their website with the top 10 currencies listed first, followed by the top 85 currencies listed next. Precious metals and special currencies are listed at the end. Currency rates change several times a day, and XE gives up-to-the minute exchange rates as easily as typing in the values of the currency to be converted. Additional tools such as a travel expense calculator and currency charts makes the XE Currency Converter a complete resource for traders, businesses, and travelers alike.
Forex traders are professionals in the currency conversion market, but currency exchange is an important part of travel and international business as well. The XE Currency Converter is one of the most popular and most reliable online converters available today, and anyone who deals in currency conversion can be sure that the XE currency rates are accurate and up-to-date with every conversion that is made. The XE Currency Converter is easy to use, and best of all, it is free.