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Forein Exchange Market

Forein Exchange Market

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Published by Harsh Kothari

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Categories:Types, Business/Law
Published by: Harsh Kothari on Jun 28, 2011
Copyright:Attribution Non-commercial

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01/15/2015

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FOREIGN EXCHANGE MARKET
Group 3
 
FOREIGN EXCHANGE
‡³The
Curr 
ency
Mark
et
w
he
e
mo
ney
d
en
omi
n
a
te
di
n
o
ne
 
c
urr 
ency
is boug
ht
a
n
d sold wi
th
mo
ney
 d
en
omi
n
a
te
d i
n
a
n
o
the
c
urr 
ency´.‡Exch
a
n
g
e
ra
te
s ar 
e
impor 
t
a
nt
b
ec
aus
e
 
they
 
en
abl
e
 us
t
o
t
ra
n
sla
te
diff 
e
ent
 
c
ou
nt
i
e
s¶ pri
ce
s i
nt
o
c
omparabl
e
 
te
rms
.‡Exch
a
n
g
e
ra
te
s ar 
e
d
ete
rmi
ne
d i
n
 
the
sam
e
wa
y
aso
the
r ass
et
pri
ce
s
.
 
TIMELINE
1944
‡ B
ett
o
n W
oods A
cc
ord is
e
s
t
ablis
he
d af 
te
W
orld
W
ar II
t
o
he
lps
t
abiliz
e
 
the
global
ec
o
n
om
y.
1971
‡ S
mi
th
so
n
ia
n
Agr 
ee
m
ent
is
e
s
t
ablis
he
d w
h
i
ch
provid
e
d gr 
e
a
te
flu
ct
ua
t
io
n
ba
n
ds for 
c
urr 
enc
i
e
s
.
1972
‡
I
n
a
n
 
e
ffor 
t
 
t
o mov
e
awa
y
from
the
d
e
p
en
d
ency
 
the
 
E
urop
e
a
n
 
c
ommu
n
i
ty
 
h
ad a
cq
uir 
e
d o
n
 
the
U
.S.
dollar,
the
 
E
urop
e
a
n
Joi
nt
 Floa
t
was
e
s
t
ablis
he
d
.
197
3
‡ The
offi
c
ial swi
tch
 
t
o a fr 
ee
floa
t
i
n
g
c
urr 
ency
s
y
s
te
m was mad
e
 af 
te
r bo
th
 
the
 
E
urop
e
a
n
Joi
nt
Floa
t
a
n
d
the
 
S
mi
th
so
n
ia
n
  Agr 
ee
m
ent
fail
e
d
.

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