subject:financial market and institution

Question 4 However, it depreciated vis-a-vis the euro to 5.1043/1092 from 5.0917/0971 The local note also weakened against other Asean currencies except for the Thai baht. The ringgit was marginally lower against the Singapore dollar at 3.4553/4592 from 3.4536/4575 on Monday and depreciated against the Philippine peso to 8.43/8.44 from 8.39/8.40 previously. It was flat vis-a-vis the Indonesian rupiah at 311.0/311.5 but rose versus the Thai baht to 13.2155/2342 from 13.2733/2954. - Bernama.

a Give a definition of the FOREX (Foreign exchange) market by listing the main participants of the market according to their influence and importance. (10 Marks)