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The foreign exchange exchange market opens on Monday morning in honkong, which is still Sunday evening in new york. As the day progresses, markets open in tokyo, frankfurt, london, new york, chicago, san francisco, and elsewhere. As the west coast markets of the united states close, hongkong is only one hour away from opening for Tuesday business. Indeed, the foreign exchange market is round –the-clock operation.A typical foreign exchange market function at three levels (1) in transactions between commercial banks and their commercial customers, who are the ultimate demanders and suppliers of foreign exchange (2) in the domestic inter bank market conducted through brokers and (3) in active trading in foreign exchange with bank overseas.
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