Hello everyone! This is our next video from “Simple financial markets” series. The history of Forex. The history of the Forex market is the result of many historical events. As an actual founder of the market the thirty-seventh president of the United States of America Richard Nixon may be considered. His decision to abolish the gold standard has become the starting point for thedevelopment of the Forex market as a separate platform. On August 15, 1971, the unlimited conversion of dollar into gold was abolished by the Smithsonian Agreement. These events have led exchange rates of all currencies to stop being firm and to become variable. So thus, the currency trading was born. After the conclusion of the Smithsonian agreement, which has established the possibility of currency quote fluctuations of up to 4.5% for currency pairs that include dollar and up to 9% for ones with no dollar, the Bretton Woods system appeared to be irrelevant. The system that had been set after World War the Second was completely replaced by the Jamaican system. By now the Forex has grown into a global market, united by a single network of communications. It opens on Monday morning in New Zealand and closes on Friday night in the USA. Subscribe our YouTube channel and follow us in social networks. Only there you can find exclusive analytical and educational content. Learn more with Proftrading company. Proftrading! We are working for you!