When did the forex currency exchange?
You can not say that one event triggered this phenomenon. Rather a series of events resulted in the forex market as we know it today.
It all started with the treaty "Breton Woods" was abandoned in the early seventies. In this treaty, the participating countries have set their currency values either gold or the US dollar. In 1973 the most powerful nations in the world introduced a free floating regime where free floating handled by market forces, or more precisely the forces of supply and demand allow.
Since then the foreign exchange market was available for speculation, hedging and other reasons. However, it was not until 1997 when the market became available to individual speculators through online platforms and leverage (margin operations), offering operators worldwide investment opportunities. The Forex market is now the most liquid financial market in the world, with a generated volume of more than 2 trillion dollars a day (source: BIS) than any US financial market combined.
You can not say that one event triggered this phenomenon. Rather a series of events resulted in the forex market as we know it today.
It all started with the treaty "Breton Woods" was abandoned in the early seventies. In this treaty, the participating countries have set their currency values either gold or the US dollar. In 1973 the most powerful nations in the world introduced a free floating regime where free floating handled by market forces, or more precisely the forces of supply and demand allow.Since then the foreign exchange market was available for speculation, hedging and other reasons. However, it was not until 1997 when the market became available to individual speculators through online platforms and leverage (margin operations), offering operators worldwide investment opportunities. The Forex market is now the most liquid financial market in the world, with a generated volume of more than 2 trillion dollars a day (source: BIS) than any US financial market combined.
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