In many countries the central bank publishes closing spot prices each trading day.
[1] Banks constantly quote a bid and an ask price based on anticipated currency movements taking place[clarification needed] and thereby make the market.
Major banks handle very large forex transactions, often in billions of units.
Companies are involved in forex transactions due to their need to pay for products and services supplied from other countries which use a different currency.
Forex traders on the other hand use forex transaction, of a much smaller volume with comparison to banks, to benefit from anticipated currency movements by buying cheap and selling at a higher price or vice versa.