How Well You Know FOREX? Trivia Quiz

The correct answer is GBP, which stands for Great British Pound. GBP is the official currency code for the currency used in the United Kingdom. It is widely recognized and used in international financial transactions.

Forex, also known as the foreign exchange market, is a global marketplace where currencies of different countries are traded. It involves the buying and selling of currencies, making it clear that Forex does include currencies of the world. Therefore, the correct answer is True.

Currencies do have the tendency to follow countries' growth. This means that when a country's economy is growing, its currency tends to strengthen and appreciate in value. On the other hand, when a country's economy is not performing well, its currency may weaken and depreciate. This relationship is influenced by various factors such as interest rates, inflation, trade balance, and market sentiment. Therefore, it can be said that currencies are generally affected by the growth or decline of the countries they belong to.

The correct answer is Rupee. The currency of India is the Rupee.

Switzerland is not using Euro. While Italy, France, and Spain are all part of the Eurozone and use the Euro as their official currency, Switzerland has its own currency called the Swiss Franc. Therefore, Switzerland is the correct answer as it is the only country listed that does not use the Euro.

The correct answer is SGD. SGD is the currency code for Singapore. It stands for Singapore Dollar.

The correct answer is Peso. The question is asking for the currency that will be used in the Philippines. The currency used in the Philippines is the Peso.

The correct answer is British pound because the question is asking for the currency associated with the currency code, and the British pound is a well-known currency with its own currency code (GBP). The other options, Euro and Japanese Yen, are also currencies but they do not match the given currency code. Therefore, the correct answer is British pound.

Forex is a decentralized market that operates 24 hours a day, five days a week. This means that it is open from Monday to Friday, allowing traders to trade currencies at any time during these days. However, the market is closed on Saturdays and Sundays, hence the correct answer is "24 hours except Saturday and Sundays".

The correct answer is Japanese Yen. Japanese Yen is the currency for the currency code mentioned in the question.

The correct answer is British Pound. The question asks for the currency of the currency code found in the picture. Since the currency code for the British Pound is GBP, it can be inferred that the currency in the picture is the British Pound.

The correct answer is "Won" because the currency of Korea is the South Korean Won.

In the year 2000, the currency used in the home of Big Ben was the Sterling Pound. This is because Big Ben is located in London, which is the capital of the United Kingdom, and the official currency of the UK is the Sterling Pound. Therefore, it is logical to conclude that the currency used in the home of Big Ben in the year 2000 would be the Sterling Pound.

Taiwan does not use the same official currency as China. While China uses the Chinese yuan (CNY) as its official currency, Taiwan uses the New Taiwan dollar (TWD). The two currencies have different exchange rates and are managed by separate central banks. Therefore, the statement that Taiwan uses the same official currency as China is false.

The correct answer is ringgit. The ringgit is the currency of Malaysia. It is issued by the Bank Negara Malaysia, the country's central bank. The ringgit is subdivided into 100 sen and is commonly represented by the symbol RM. It is used for all transactions within the country and is also accepted as legal tender in some parts of Thailand and Singapore.

The correct answer is "Dong." The currency of Vietnam is the Vietnamese Dong.

The currency of South Africa is the Rand.

As of July 2010, India changed its currency code. This means that the code used to represent the currency of India was modified during that time.

The correct answer is Switzerland and Liechtenstein. These countries use CHF as their currency. China does not use CHF as its currency.

In spot forex trading, the buying and selling of one currency against another currency is based on a pre-agreed rate. This means that the rate at which the currencies are exchanged is agreed upon in advance between the parties involved in the trade. This pre-agreed rate helps to ensure transparency and eliminates the risk of sudden rate fluctuations during the transaction. Therefore, the correct answer is "pre-agreed".