What is Forex Trading?
Forex in shorts
Forex trading is the exchange of one country's currency with another country's currency. Unlike other financial markets, the forex market has no specific location and no central exchange. Instead, transactions are conducted through electronic networks between banks, companies and individuals. Forex transactions are transactions in the form of currency pairs, while buying one currency in a pair of currency combinations and selling another currency.
History of Forex Market Development
- Strict control of exchange rate fluctuations (Bretton Woods Agreements)
- Abolition of the US dollar/gold exchange system (Smithsonian Agreements)
- The history of freely floating exchange rates between currencies is opened (International Monetary Fund IMF)
World Forex Market
|North America||New York|