Editing Foreign exchange spot (section)

{{Short description|Financial agreement}}
{{Foreign Exchange}}
A '''foreign exchange spot''' transaction, also known as '''FX spot''', is an agreement between two parties to buy one currency against selling another currency at an agreed price for settlement on the [[spot date]]. The [[exchange rate]] at which the transaction is done is called the '''spot exchange rate'''. As of 2010, the average daily turnover of global FX spot transactions reached nearly US$1.5 trillion, counting 37.4% of all foreign exchange transactions.<ref name="BISReport" />   FX spot transactions increased by 38% to US$2.0 trillion from April 2010 to April 2013.<ref name="BISReport2" />