Cryptocurrency Q&A
When did the foreign exchange market start?
When did the foreign exchange market start?
AltcoinExplorer
Wed Aug 07 2024
|
5 answers
1103
Could you please elucidate on the origins of the foreign exchange market? When precisely did it commence its existence, and what were the underlying factors that led to its inception? It would be fascinating to gain insights into the historical backdrop and the key milestones that have shaped this integral component of global finance.
5 answers
DavidJohnson
Fri Aug 09 2024
The Bretton Woods system, established post-World War II, aimed to stabilize international trade and financial relations among the world's major industrial nations.
Was this helpful?
323
42
Daniela
Fri Aug 09 2024
However, as time progressed, the system's fixed exchange rates proved unsustainable, ultimately leading to its collapse in the 1970s.
Was this helpful?
167
81
CryptoTitaness
Fri Aug 09 2024
The dawn of the modern foreign exchange market can be traced back to the 1970s, marking a significant shift from the preceding three decades.
Was this helpful?
195
37
BlockchainBrawler
Fri Aug 09 2024
This collapse paved the way for the emergence of the modern foreign exchange market, where currencies are traded freely based on market forces.
Was this helpful?
124
37
BonsaiVitality
Fri Aug 09 2024
Prior to this period, the Bretton Woods system governed global monetary management, imposing stringent restrictions on foreign exchange transactions.
Was this helpful?
294
41
