What are the historical developments of the TR market and how has these affected how the TR market functioned?

Bretton Woods (1945 - late 50s)

· Return to the gold standard and convertibility

· Creation of IMF and World Bank.

· Convertibility based on bilateral relations.

· Improved communication in the telex.

Technological revolution

· Technology changes the market. (use of calculators, computers)

· Communications made the world smaller with integration of market
(merging of foreign exchange and money markets)

· More efficient and quick access to news and information
(development of Euro markets and movement of capital)

The Era of Floating Exchange Rates

· No format tie ups, exchange rates left to find its own levels.

· Market forces play a major part (political, economic, psychological)

· Co-ordinated central bank intervention (G7 Plaza Accord)

	Created by Ah Liang about 10 years ago

Note on TREASURY, created by Ah Liang on 02/17/2014.

TREASURY