Which BDO branches are authorized to exchange foreign currencies?

List of BDO Branches Authorized to Exchange Foreign Currencies (as of May 22, 2023) I. US Dollar (USD) – All BDO Branches II. Other Currencies Chinese Yuan (CNY)

What is foreign exchange (FX)?

What is Foreign Exchange? Foreign exchange (Forex or FX) is the conversion of one currency into another at a specific rate known as the foreign exchange rate. The conversion rates for almost all currencies are constantly floating as they are driven by the market forces of supply and demand.

Why are foreign exchange transactions executed 24 hours a week?

Due to this reason, foreign exchange transactions are executed 24 hours, five days a week (except weekends). Despite the decentralized nature of forex markets, the exchange rates offered in the market are the same among its participants, as arbitrage opportunities can arise otherwise.