Legal Definitions - money changer

A money changer is a person or business that specializes in exchanging currencies. Their primary business is to buy and sell different currencies at a profit.

For example, if you are traveling to a foreign country, you may need to exchange your home currency for the local currency. You can go to a money changer to do this. They will give you the local currency in exchange for your home currency, but they will charge you a fee or commission for the service.

Another example is if you are a business that deals with international trade. You may need to exchange large amounts of currency to pay for goods or services in another country. A money changer can help you with this by providing you with the necessary currency at a competitive exchange rate.

Money changers play an important role in the global economy by facilitating international trade and travel. They help people and businesses to access the currencies they need to conduct their transactions.