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Foreign Exchange Rate is discover more defined as the price of the domestic currency with respect to another currency. The purpose of foreign exchange is to compare one currency with another for showing their relative values. https://www.ikim.gov.my/new-wp/index.php/2021/12/17/revisiting-online-forex-trading-fatwa/ Think of a forex card as a prepaid travel card that you can load with a foreign currency of your choice. You can use a forex card just like a credit or debit card to pay for your expenses in a local currency abroad. You can withdraw local cash from an ATM. The card can be used to withdraw cash at all Visa ATMs worldwide. Irrespective of the currency in the card, the cash dispensed will be of the said currency of the country. Only ensure that you remember the PIN given to you with the card welcome kit. The same is unique for every card and can be changed only through travel web log-in. Following are the steps for using a Forex Chip Card during a POS transaction: