The modern world will focus on Exchange of currencies. Dollars, pounds, roubles or Yuan rupees for real money or virtual. However, the process of trading and currency exchange rates, thousands of years old that has changed beyond recognition. Let's see how you can occur.
The starting point of the Exchange list.
Before the Exchange, recorded in Egypt, approximately 9000 BC, when farmers began to The gathering in the exchange market for cattle, sheep, Rice for the butter.
The development of trade routes. Rules of Exchange, the Exchange become significantly more complex. Papyrus or stone chariot can buy exotic animals. The skin or from Africa or Asia, ore. In addition, at the time. People try to negotiate price.
The first coins (600 years BC).
The end of the trade dispute has been placed. The first currency in the history of the Kingdom of Lydia-coin (now part of Turkey).
One side of the coins. Roaring lion was shot on the other – simple signals. Coins made of electrum – mineral composed of copper alloy with silver. Size is not the same, so it is assumed in large part by weight of one coin weight 0.15 g.
The development of international trade.
Florin nly struck in Florence in 1252 ad, during the course of the 20th century florin other currencies almost unchanged. Thus is used widely for payments across Europe. The stability has an important role in the development of international trade.
Follow-up to my blog with Bloglovin
The first banknote (1290 AD)
In the fourteenth century, three in particular, Marco Polo travel. Bring the idea of banknotes from China, which by this time had been in circulation two centuries. But Europe is not ready for notes and take about 300 years before Sweden started the first paper money printed.
Characteristics of federal State.
The Bank said a first appearance In Sweden in the year 1661, the main task of the Central Bank of the State-controlled operating in the country and the responsibility of State money. Including production.
Other countries follow Sweden's example, instantly, like the Central Bank in France, country of establishment. 140 years later, and the Empire of Russia State Bank that appeared in that year and in 1913 the Federal Reserve system was established in the United States. Before the dollar banknotes issued by the Bank, look each American, and they vary in size and design.
The beginning of globalization.
In the year 1944, the Bretton Woods international conference held at this. Agreements made the pledge gold rate dollar exchange rate. Dollar to foreign currencies, according to the international trade. The meeting decided to create a World Bank and International Monetary Fund. The process of the globalization of the modern world, starting with a. Bretton Woods Conference.
Free currency converter
August 1971, the President of the United States, said the U.S. has refused to use the goldstandard. Therefore refused to promise in the year 1971 Bretton Woods in Washington with a meeting between the leading countries of the West. A band of fluctuations of the currency against the dollar. Previously 1% is changed as a result of this meeting. Almost more markets. The small private sector traders start to appear on it.
In 1978 the International Monetary Fund approved the principle of attaining the free conversion of currency called. This reform established the rule that it is for the distribution of the final form, supply and demand, the exchange rate of one currency to another. Simply put, In the current market, according to the principle of free currency converter.
The first trading platform.
In the early 90 's, the Internet technology development. Banks began to create a trading platform of their own. These trading platforms are designed. To send a quote to the customer. And carry out orders quickly. Later in the month. The company began trading on the market. Start forex trading system that will provide general. After that, these companies are called retail broker or Management Center. At last Today, trading in the currency market as people.
Hope that the process of developing an interesting currency trading is for you. I tried to tell you briefly that it is, and why the exchange rate, such that we know today.