Foreign exchange market is an over the counter market which is solely used for trading currencies. Many financial centres all around the world use the foreign exchange markets to base their transactions. This foreign exchange market is the same thing that is responsible for the rate of various currencies. What is the purpose of this foreign exchange market though? The foreign exchange market serves as an aid in international investment and trade. This is done by allowing a business to change one form of foreign currency to another form of currency. Many companies worldwide and individuals depend on the foreign exchange market to conduct several different types of businesses. This market has been helping a lot of people over the years and if the foreign exchange market were to stop for a day then everything would come to a halt. Yes, this is how important the foreign exchange market is although we do not hear much about it if anything about it in our daily lives. Many also depend on this market to make a living as they deal and trade currencies daily and so if it were to stop working then they would be out of a job and without income.