Complete real-time professional historical forex data chart for UK equities professionals and active non-professional traders. Can you afford not to be in the know? Set up an online Virtual Portfolio. See more trades and director dealings.
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This website is operated by IFCMARKETS. Forex Market is a decentralized global market where all the world’s currencies are traded against each other, and traders make a profit or loss from the currencies’ value changes. Forex Market is also known as Foreign Exchange Market, FX or Currency Trading Market. History of Forex Market The history of Forex market is marked by two particular events which put a deep stamp on its formation and development.
These two historical events are the creation of Gold Standard System and Bretton Woods System. Gold Standard and Bretton Woods Systems Gold Standard System was formed in 1875. The main idea behind it was that governments guaranteed that a currency would be backed by gold. All the major economic countries defined an amount of currency to an ounce of gold as the value of their currencies in terms of gold and the ratios for these amounts became the exchange rates for these currencies. This marked the first standardized means of currency exchange in history. In July 1944 more than 700 representatives from the Allied nations brought forward the importance of a monetary system which would fill the gap left behind the gold standard.