1. Currency trading is hardly the invention of
modern times. There is evidence in the Talmudic writings that “money-changers”
who exchanged different currencies operated within the cities, mostly out of
street stalls or from within the local temples.
2. The first real bank was Monte Dei Paschi di
Siena and it was founded in 1472 in Tuscany, Italy. The bank is in operation to
this very day.
3. The gold standard was introduced back in 1880
and many consider this to be the beginning of the modern foreign exchange.
4. At the beginning of the 1900s there were only
two foreign exchange brokers in London.
5. But by 1913 half of the global foreign exchange
was performed by using the pound sterling.
Very interesting gold post, thank you.
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ReplyDelete