Meaning of the word forex in English

What does forex mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

forex

US /ˈfɔːr.ɛks/
UK /ˈfɒr.ɛks/

Noun

the market in which currencies are traded; foreign exchange

Example:
He lost a lot of money trading forex.
The company deals heavily in forex to manage its international transactions.