The History of Forex Trading
GOLD STANDARD MONETARY SYSTEM
In this system each and every country had a certain amount of fix currency to an ounce of gold, and during trading the exchange was made between predefined amount of currency and amount of gold. At the time of world war II Gold Standard Monetary System came to halt and a new trading system was evolved; The BRETTON WOODS SSTYEM.
BRETTON WOODS SYSTEM
This new system was first established in the year 1944 and was active till the end of year 1971. In this system, US dollar was considered as the world’s reserve currency. In the year 1976 MORDERN FOREIGN EXCHANGE SYSTEM was established and by the middle of 1990’s, FOREX TRADING SYSTEM became very popular and is still the world’s largest trading system.