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Historical Exchange Rate Graph

Forex trading is one of the biggest financial markets in the world. It is a form of investment by trading in major currencies of the world. One of the important factors of Forex trading is learning about the historical exchange rate of a currency.

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This is significant given the fact that currency trading is largely impacted by the economic, political and business scenario of the countries in the world. Hence, the past historical exchange rates figures, and its graphical representations gives relevant and useful tips on how currency markets have fared during the major changes to the economic, political and business scenario in the countries. It helps in making good financial decisions when similar factors come into play in the present days. 

The history of determining exchange rates itself can prove to be a lesson. This teaches us the link between how changes in economic, political and business scenario can impact exchange rates. For example, the nineteenth century saw exchange rates dependent on an ounce of gold and following the scrapping of gold standard in 1913, and the Great Depression in the US in 1929, the exchange market slid into a recession. However, after the Second World War, the Bretton Woods Agreement evolved for a fixed exchange rate of world currencies against the U.S dollar. In 1971, the Smithsonian Agreement paved the way for the demand and supply to determine the exchange rate when the gold standard was completely scrapped and the supply of U.S dollar exceeded its demand. It gave a large scope for the Federal Reserve in controlling the financial markets and greater liquidity the following year in 1973 when the floating currency system was introduced.

Today, the U.S dollar still dominates many financial markets, and coupled with the Euro, accounts for 50 percent of all currency exchange transactions. 

There are few steps to find out how the historical exchange rate graphs work. The first step is to select the language followed by the range of dates and the currencies. The historical exchange rates can be obtained with the desired rate in many formats such as ASCII, CSV or HTML format. 

There are many popular historical exchange rate resources. The financial management service of the US Department of Treasury offers historical exchange rates services for five major currencies in the world collected since January 1999.

The Bank of Canada offers monthly averages for ten year exchange rates statistics and currency converter for US dollar and other currencies. It provides the annual averages for all currencies since 1997.

The Organization for Economic Cooperation and Development, OECD, offers USD exchange rates monthly averages since 1947 for as many as thirty-eight members and non members’ countries.

Oanda.com allows you to access foreign historical exchange graphs for any of the one hundred and sixty-four currencies with daily rates available back to 1990.

XE.com offers historical exchange rates on ninety-five currencies back to 1995. Some of the popular Forex trading automated trading software systems include FapTurbo, Forex Megadroid, and LMT Forex Formula among others.

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Historical Exchange Rate Graph

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