- 15, Jun 2020
- #1
Forex The international currency market FOREX arose not so long ago.
The impetus for its emergence was World War II, namely, its consequences - the signing of the Bretton Woods Agreement, and as a result the creation of the International Bank for Reconstruction and Development and the International Monetary Fund.
One of the functions of the IMF was monitoring the balance of payments of the countries that were included in it, and the exchange rates of the currencies of these countries.
After signing this agreement, the exchange rates of countries that were members of the IMF began to be tied to the dollar at a fixed rate.
The price of gold was also fixed - 1 ounce was valued at $ 35 (gold standard).
The next decision, which abolished the free convertibility of the dollar into gold and can be said to have broken the Bretton Woods system, was the decision of US President Richard Nixon.
Thus, he abandoned the gold standard and introduced new rules on the international currency market: since December 1971, 4.5% fluctuations in exchange rates against the US dollar were allowed.
All these events contributed to the development of the international FOREX market - the exchange market currencies between banks at free prices.
Already in 1977, 5 billion dollars were circulated daily in the Forex market, and in 2010 this turnover reached a colossal figure - 4 trillion dollars of the United States of America.
Today, anyone can listen to seminars at which they will give you knowledge about the Forex market, how to earn your first capital there.
But there are other ways with which you can make money in the Forex market - forex advisors.
These are special programs that analyze the currency exchange market and give tips with which the user can independently buy / sell currency and make a profit.
The impetus for its emergence was World War II, namely, its consequences - the signing of the Bretton Woods Agreement, and as a result the creation of the International Bank for Reconstruction and Development and the International Monetary Fund.
One of the functions of the IMF was monitoring the balance of payments of the countries that were included in it, and the exchange rates of the currencies of these countries.
After signing this agreement, the exchange rates of countries that were members of the IMF began to be tied to the dollar at a fixed rate.
The price of gold was also fixed - 1 ounce was valued at $ 35 (gold standard).
The next decision, which abolished the free convertibility of the dollar into gold and can be said to have broken the Bretton Woods system, was the decision of US President Richard Nixon.
Thus, he abandoned the gold standard and introduced new rules on the international currency market: since December 1971, 4.5% fluctuations in exchange rates against the US dollar were allowed.
All these events contributed to the development of the international FOREX market - the exchange market currencies between banks at free prices.
Already in 1977, 5 billion dollars were circulated daily in the Forex market, and in 2010 this turnover reached a colossal figure - 4 trillion dollars of the United States of America.
Today, anyone can listen to seminars at which they will give you knowledge about the Forex market, how to earn your first capital there.
But there are other ways with which you can make money in the Forex market - forex advisors.
These are special programs that analyze the currency exchange market and give tips with which the user can independently buy / sell currency and make a profit.
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