History of occurrence of Forex market

The history of occurrence of the Forex market

The forex market came with the first money. But the first currency exchange operation carried out in the steel XV-XVI centuries. In connection c development of seafaring economy of the states, as well as international trade. There were first speculators, it was the Italian “money changers”. Often the “changers” were jewelers who can check the authenticity of the coins. They were engaged in exchange of coins one state to another coin. It could often be found that the money changers were united in the community and can buy from the feudal lords and the cities the right to mint coins.

With the gradual development of international market relations, forex also changed. The most radical change began in the twentieth century. In the 70s, after removing the fixed exchange rate, the currency market has got a modern shape.
After the removal of restrictions on foreign currency fluctuation a new kind of business was created, it was based on the change rate currencies for profit.

Exchange transactions for the purchase and sale of foreign exchange instruments are only part of transactions in the market. For these operations, there is a separate term – Foreign Exchange Operations (FX, Forex) .Ponyatie – Forex used for the exchange of currency, and not the entire amount of foreign exchange transactions.

Forex CIS

History of Forex in CIS starts from 90 years HHveka. The most progressive state banks quickly realized that trading in Forex they can make profits. We began to open a new bank branch, which carried out various currency transactions. Prospective traders quickly rose and began to move to Western banks.

Normally, the central banks of countries …

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