European Monetary System
In 1972, a resolution to reduce its dependence on the US dollar currency of the European Communities. In the first attempt for the Netherlands, Belgium, Italy, France, West Germany and Luxembourg began with the creation of the European Joint Float systems themselves. Agreement especially in the Bretton Woods system of exchange rates would allow a wider range of fluctuation. The collapse of the Bretton Woods system and Smithsonian Agreement on snakes European countries came together in April 1972 on a range of ± 2.25%, while the tunnel is agreed on a range of ± 4.50%. Various regulations related to foreign currency adjustments were made between the years 1973-80. The European Council of December 1978 agreed to the establishment of the European Monetary Union, to be effective from the date of March 1979. In 1979, the European Currency Unit (ECU - European Currency Unit) was defined. Since January 1, 1999. The euro has replaced the ECU. As a result, variable exchange rate system is provided according to the basic rules of supply and demand money's worth. Today, the forex market is the world's largest and most liquid market.
Inter-bank market constitutes a large part of speculative and trade intensity every day. A large banks can process logs billion dollars. These operations are performed for some customers, but a large portion of bank accounts and carried out by its own shareholders.
Until recently, forex brokers in large volumes of transactions, inter-bank trading and were made anonymous parties uniting for a small fee for transactions. Today, this system is done with a fully electronic system with an excellent operation. This technology allows traders can perform all operations itself and is able to measure the speed with trading in milliseconds.
Wednesday, July 8, 2015
European Monetary System
European Monetary System
In 1972, a resolution to reduce its dependence on the US dollar currency of the European Communities. In the first attempt for the Netherlands, Belgium, Italy, France, West Germany and Luxembourg began with the creation of the European Joint Float systems themselves. Agreement especially in the Bretton Woods system of exchange rates would allow a wider range of fluctuation. The collapse of the Bretton Woods system and Smithsonian Agreement on snakes European countries came together in April 1972 on a range of ± 2.25%, while the tunnel is agreed on a range of ± 4.50%. Various regulations related to foreign currency adjustments were made between the years 1973-80. The European Council of December 1978 agreed to the establishment of the European Monetary Union, to be effective from the date of March 1979. In 1979, the European Currency Unit (ECU - European Currency Unit) was defined. Since January 1, 1999. The euro has replaced the ECU. As a result, variable exchange rate system is provided according to the basic rules of supply and demand money's worth. Today, the forex market is the world's largest and most liquid market.
Inter-bank market constitutes a large part of speculative and trade intensity every day. A large banks can process logs billion dollars. These operations are performed for some customers, but a large portion of bank accounts and carried out by its own shareholders.
Until recently, forex brokers in large volumes of transactions, inter-bank trading and were made anonymous parties uniting for a small fee for transactions. Today, this system is done with a fully electronic system with an excellent operation. This technology allows traders can perform all operations itself and is able to measure the speed with trading in milliseconds.
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