KHAYA SITHOLE: Weak regulation of foreign exchange markets favours intermediaries
The business model of the middlemen is lucrative for a number of reasons
23 November 2023 - 05:00
The foreign exchange market is one of the world’s biggest trade areas. In 2013 the value of trades conducted globally daily was $5.3-trillion. Last year, the daily trade value cracked the $7.5-trillion mark.
This growth in the market reflects the increase of trade activity globally and the importance of the foreign currency market as an engine of the global economy. It is a market that is a foundational necessity for those involved in cross-border trade and with a need to transact with clients globally. And it is a lucrative market for the middlemen who facilitate it all. ..
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