I have the following code
currencies_group_0 = [
    {"code":"cad", "big_code":"CAD", "name":"Canadian Dollars", "symbol":"$", "rate" : 0.97},
    {"code":"eur", "big_code":"EUR", "name":"Euros", "symbol":"€", "rate" : 0.7102},
    {"code":"gbp", "big_code":"GBP", "name":"British Pounds Sterling", "symbol":"£", "rate" : 0.5196},
    {"code":"hkd", "big_code":"HKD", "name":"Hong Kong Dollars", "symbol":"$", "rate" : 5.9853},
    {"code":"jpy", "big_code":"JPY", "name":"Japanese Yen", "symbol":"¥", "rate" : 92},
    {"code":"nzd", "big_code":"NZD", "name":"New Zealand Dollars", "symbol":"$", "rate" : 1.0237},
    {"code":"usd", "big_code":"USD", "name":"United States Dollars", "symbol":"$", "rate" : 0.7719}
];
currencies_group_0.forEach(function(element) {
    lis_0 += '' +
    '<li class="ui-selectmenu-item-label" rate="' + element.rate + '">' +
    '<a href="#nogo" tabindex="-1">' +
    '<span>' +
    '<div class="flag ' + element.code + '"></div>' +
    '<span class="ui-selectmenu-item-content">' +
    '<span class="currency-name">' + element.name + '</span>' +
    '<span class="currency-code">' + element.symbol + ' ' + element.big_code + '</span>' +
    '</span>' +
    '</span>' +
    '</a>' +
    '</li>';
});
What does the "element" do? I'm not sure how this code works. Shouldn't there be a "this" somewhere?
 
     
     
     
    