History of emergence of Forex

The world interbank market Forex (FOReign EXchange) was created when international trade passed from fixed rates of currencies to floating. It is set of transactions of agents of the currency market on an exchange of the stipulated sums of monetary unit of one country for currency another at the coordinated course for a certain date. At an exchange the course of one currency concerning another is defined very simply: supply and demand – an exchange to which both parties agree. From now on Forex became the most dynamic and liquid market and the only thing in the world the market working round the clock.

Volumes of operations of the world currency market constantly grow. It is connected with development of international trade and cancellation of currency restrictions in many countries. Is impressive not only the volume of operations in itself, but also those rates by which development of the market is noted: in 1977 the day turn made 5 billion US dollars, in ten years it grew to 600 billion and reached one trillion dollars 1992. About 80% of all transactions make the speculative operations aiming at generation of profit from game on a difference of exchange rates.

Also it should be noted that owing to the highest rates of development of information technologies in the last two decades the market changed unrecognizably.