forex online pakistan

Today’s Forex market began to develop in 1973; however, foreign currency trading has beenaround since Pharaonic Egypt's advent of coinage, and the ancient Babylonian's usage of papermoney. More relevant to today’s market however, are the post World War II alterations to theinternational exchange rate. World War II left the United States an industrial giant unscathed by thewar, at least in comparison to the European powers. Worldwide confidence in the dollar made it thereserve currency of choice. To prevent a recurrence of the global depression, the Bretton WoodsSystem, ratified by all the major capitalist countries, pegged international currencies to the dollar,which had its value, in turn, fixed in gold. This led to a system of fixed exchange rates, and thedollar's role as de facto reserve currency was formalized.This arrangement lasted for the next three decades.In the early seventies, however, deterioratingconfidence in the strength of the dollar led to market-driven currency values, and a new system offloating exchange rates took hold. The modern Forex market arose from this new arrangement.