I've noticed that the exchange rates for Japanese yen seem to fluctuate quite a bit. I'm wondering why this is the case. What factors influence the yen's exchange rate and why does it seem to change more frequently than other currencies?
Banks engage in transactions at the real rate. Specifically, when banks and transfer services exchange Japanese yen among themselves, they utilize the mid-market rate, also commonly referred to as the interbank rate. This rate is considered the most equitable and represents the true exchange rate.
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Tue Jan 14 2025
Despite using the mid-market rate internally, banks often impose a hidden markup when providing services to customers. This markup is the reason behind the variance in exchange rates offered by different providers. Customers are thus not always privy to the true exchange rate enjoyed by banks.
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In addition to spot trading, BTCC also facilitates futures trading. This feature enables users to speculate on the future price of cryptocurrencies and potentially profit from market movements. Futures trading adds an extra layer of complexity but also opens up new opportunities for investors.
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