Forex market (Foreign Exchange Market, FX Market, including forex, currency market) is the economical place to offer foreign currency demand and meet each other and be replaced at the agreed upon exchange rate. The foreign exchange market can be located, because the vast majority of forex trading directly between market participants held and currency markets were lifted or become meaningless.
The Forex market is a daily turnover of about 4 trillion U.S. dollars in 2011 is the largest financial market in the world.
The international currency trading began in 1880 with the possibility of having credit payments abroad on its own bank account abroad. With the establishment of the IMF and the World Bank, and in particular by the Bretton Woods Agreement of 22 July 1944 was caused in fixed exchange rates, the uncertainties have been established internationally. Central banks were committed in if they exceed or fall below the so-called intervention points to intervene in the market, and thereby restore the intervention points. These fixed exchange rates were first on 30 September 1969 eased 19 March 1973 the EC begins with the common block-floating against the U.S. dollar, which integrates the existing fixed exchange rates were replaced in favor of floating exchange rates. By floating exchange rate increased the risks for market participants; equity, interest rate and currency markets were now greater price fluctuations (volatility) exposed.
Forex market (Foreign Exchange Market, FX Market, including forex, currency market) is the economical place to offer foreign currency demand and meet each other and be replaced at the agreed upon exchange rate. The foreign exchange market can be located, because the vast majority of forex trading directly between market participants held and currency markets were lifted or become meaningless.
The Forex market is a daily turnover of about 4 trillion U.S. dollars in 2011 is the largest financial market in the world.
The international currency trading began in 1880 with the possibility of having credit payments abroad on its own bank account abroad. With the establishment of the IMF and the World Bank, and in particular by the Bretton Woods Agreement of 22 July 1944 was caused in fixed exchange rates, the uncertainties have been established internationally. Central banks were committed in if they exceed or fall below the so-called intervention points to intervene in the market, and thereby restore the intervention points. These fixed exchange rates were first on 30 September 1969 eased 19 March 1973 the EC begins with the common block-floating against the U.S. dollar, which integrates the existing fixed exchange rates were replaced in favor of floating exchange rates. By floating exchange rate increased the risks for market participants; equity, interest rate and currency markets were now greater price fluctuations (volatility) exposed.
This was especially true in times of crisis such as the first so-called oil crisis caused by the Yom Kippur War, after the 26th October was triggered 1973rd The closure of the Herstatt Bank on 26 June 1974 threw the first issues of counterparty risk in the interbank market, whereby there is a risk that a bank fails in the time and its contractual obligations can no longer keep to the other bank in reliance made ??on the consideration to be provided (so-called Herstatt risk ). The result was that prudential revisions were required and the need for effective tools for effective and efficient risk management increase.
On 13 August 1982 joined Mexico ‘s foreign exchange market, sparking the beginning of the so-called debt crisis in particular in Latin America and other developing countries. Other national crises such as the Asian tigers -crisis (1997), or the Argentine crisis (1998) followed and had a huge impact on the currency markets. The results showed that the currency markets, unlike securities or financial markets, strongly influenced by government and public policy influences are: a certain currency is in crisis, so does the central bank or even the state itself into the action.
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