外国為替 (gai koku 私 kase), or “foreign exchange,” refers to the global market in which currencies are traded. It encompasses the processes of buying and selling different currencies across various countries. The forex market is essential for international trade and investment, as it enables the conversion of one currency into another at its current exchange rate. These exchange rates fluctuate based on supply and demand factors, geopolitical stability, economic indicators, and market sentiment. The foreign exchange market operates 24 hours a day, facilitating transactions between various entities, including banks, financial institutions, corporations, and individual traders. It is one of the largest and most liquid markets in the world, with a daily turnover exceeding several trillion dollars.