To understand the principles that govern the operation of FOREX, it is important to review some concepts closely linked to money concepts, and currency exchange.
Man has indeed always sought to simplify procedures surrounding the acquisition of goods or services and that maintaining a certain degree of mutual trust between buyers and sellers. This is what initially led him to create the coinage in antiquity and in the Renaissance, the bill of exchange. The use of increasingly widespread latter opens Slowly but surely the way to print paper money, a process that will soon become an exclusive privilege of the central banks of different countries.
A new trend appears in the 19th century as a result of international trade. In the absence of a common currency, it is imperative to create an international system to facilitate transactions and to stabilize the exchange rate. Two of these systems, which want to somehow precursors FOREX exist in the 19 th and 20 th century. This is the gold standard (which peaked between 1870 and 1914) and the Bretton Woods (1944-1971).
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forex