Currency Exchange
Currency exchange is the process of converting one currency into another, typically for international trade, travel, or investment purposes. It involves determining exchange rates, which represent the value of one currency relative to another, and can be conducted through banks, financial institutions, or digital platforms. This concept is fundamental in global finance, enabling cross-border transactions and economic interactions.
Developers should learn about currency exchange when building applications that handle international payments, e-commerce platforms, financial software, or travel services, as it ensures accurate conversions and compliance with financial regulations. It's essential for implementing features like real-time rate updates, multi-currency support, and automated forex calculations in fintech or global business systems.