Foreign Exchange Market (Part 1) | International Business | From A Business Professor
China has been the largest foreign market for Apple for years. In 2020, Apple’s revenue in China hit 261.95 billion Chinese yuan, which is about 40.3 billion USD. Under this scenario, even if Chinese yuan depreciate 1 percent against U.S. dollar, Apple’s revenue in China will lose around 403 million U.S. dollar. Therefore, the foreign exchange market is critical for Apple’s performance. Actually, due to the increasing impact of the globalization, the foreign exchange market is becoming more and more important not only to big companies, like Apple, Boeing, and Ford, whose revenue heavily rely on foreign markets, but also to many individual investors, consumers and international travelers. So what is foreign exchange market? What are its major functions and features? In this video, I will answer these questions for you.
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