Financiamiento de comercio exterior interbank forex
Along time ago, men performed transactions through barter, but nowadays money is involved in almost every negotiation carried out. This situation does not represent any problem when residents of the same country are involved in such negotiations because they share the same currency so they accept it as a payment method. However, each sovereign nation has the financiamiento de comercio exterior interbank forex to have its own currency and manage it. So what happen when dealers come from diverse countries where different currencies are used?
For example, the income of a Costa Rican importer that buys cars from a North American company is in colones but the foreign company demands the payment in dollars. So the national businessman would have to acquire the North American currency to perform the transaction, in other words he would have to resort to the currency market also known as foreign-exchange-market. The currency market is where different foreign currencies are traded. This market is constituted by a great variety of dealers all around the world, who sell and buy foreign currencies, thus making possible any international transaction. The main trading centers are in London, New York, and Tokyo. The currency market represents a mechanism that makes possible the purchase of currencies in an impersonal and efficient way. This market favors international trade because it transfers purchasing power from one currency to another, in this way dealers are able to sell and buy or carry out any kind of business with brokers of other countries.
In this way, Costa Rican tourists in other countries as well as foreign tourists in Costa Rica, exporters, importers, investors and also people who need to send money to other country, resort to this market. The exchange market plays an important role in the appropriate performance of dealers when carrying out any transaction and also in the development of the economy in general. In this sense, the main role is to be a mechanism by which dealers can have purchasing power in a foreign currency. In other words, dealers have the possibility to make foreign currency payments. Such a role allows that importers, like the one in the previous example, be able to buy products manufactured in other countries and sold in different currencies. In this way the importance of this market to external economic relations can be perceived.