The foreign exchange market refers to:
a. a physical place in the heart of New York City's financial district, where traders come to trade other currencies.
b. a collection of all purchases and sales of one currency for another,where exchange rates are determined.
c. the discount window of the Federal Reserve.
d. the commodity futures market.
Answer: b. a collection of all purchases and sales of one currency for another,where exchange rates are determined.
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