History of Currency Trade:

The very beginnings of FOREX or currency trade have an important place in history. A careful glance at ancient cultures reveals that trade played a significant role in daily life. The earliest form of currency in use were coins. However, sometime in the Middle Ages, a need was felt for a different form of payment. Today, it is agreed that the Babylonians were among the first to use paper bills and receipts. Trading was never the same again. From then onwards, till around the early 20th century, the markets themselves underwent a huge change as they became more volatile in nature due to the increased activity. The FOREX market, as we know it today, originated in 1973. The FOREX market is relatively young and is the largest financial market in the world today. Some of the players in this huge playground include banks, currency speculators, multinational co operations, governments and other financial markets and institutions.