Short-data on the origin and evolution of the exchange rate

A medium of exchange has a long history, and you can return to the ancient Middle East and from the Middle Ages, when the trade began to form after the commercial bank develops Exchange, the third party payments, the flexibility and growth in foreign currency transactions. The foreign exchange market is characterized by modern times of high volatility (that is a frequency and amplitude of change in the price) and a relative stability, even within the century. The mid-1930s, the British capital London is the first, the center of currencies and the British pound was the currency for trade and to maintain as a reserve currency. As in ancient times to the exchange rate was telex or cable, the pound sterling usually the nickname "cable". After the Second World War, where the British economy was destroyed and the U.S. was the only country free from war, U.S. dollar, in line with the Bretton Woods Agreement between the United States, Britain and France (1944), the reserve for the capitalist countries and all currencies are the U.S. dollar (through the formation of rows of currencies maintained by the central banks of countries affected by interventions or the purchase of foreign exchange). From the perspective of the U.S. dollar was on the gold at $ 35 per ounce. So is the U.S. dollar was the reserve currency of the world. Under this agreement, the International Monetary Fund (IMF) today announced financial support for developing and former socialist countries, the processing industry. To these goals the IMF uses instruments such as the reserve in the trenches, making it a member in its own stock rates at the time of payment with credit and superstructure drawings stand-by agreements. The letters are the norm in the form of loans from the IMF, in contrast to those of the compensatory financing facility will aid the financial support by the time problems caused by the reduction in export earnings, the stock financing facility which aims to improve the storage of raw materials to for the maintenance of price stability in a specific product and the expansion of facilities for the members to the financial problems in the quantity or for a period longer than the other plants. At the end of his 70-years, the float of currencies was officially mandated, this is the most important milestone in the history of financial markets in the XX century, education in forex trading in the context of understanding. This is the motto of May to be negotiated around the world and their value depends on the current supply and demand in the market, and there is none for the maintenance, that must be met. Exchange rates dramatically increased volume of foreign exchange was freely against each other. While sales in the year 1977 was a day of U.S. $ 5 billion, rose from U.S. $ 600 billion in 1987 to U.S. $ 1 billion mark in September 1992 and stabilized at 1.5 billion until 2000. Most important factors affecting growth in this band are described below. An important task was the greatest volatility in currencies, increasingly, the reciprocal influence of different economies, the bank's records, by the central banks, especially the exchange rates of currencies, the intense competition in product and in the same time the merger of companies from different countries, the technological revolution in the field of the common currency. The last lecture in the development of systems for automatic processing and the transition to a common currency for trading via the Internet. In addition to the treatment systems, while all operators in the world electronic duplication of work with the broker on the market. The development of technology, software, telecommunications, and the players have experience of sophistication, their ability to manage foreign exchange gains and risks. Therefore, the trade in the world wisdom volume increase.