Development of foreign exchange market after the collapse of Bretton Woods system
Journal Title: Central European Review of Economics and Finance - Year 2016, Vol 13, Issue 3
Abstract
Decline of Bretton Woods system allowed for constituting a new multi-currency system. Since the beginning of the 1980s a spectacular growth in turnover on Forex international market of foreign exchange has been observed. According to data included in BISE reports, mean daily turnover on this market increased from USD 590 billion in 1989 to USD 5.345 billion in 2013. Polish market of foreign exchange is also undergoing transformations. The fact that Poland can participate in transactions on Forex international market is a result of several successively occurring processes. Decreasing the distance that separated Polish market of foreign exchange from markets of highly developed economies is their result. Achievements of recent years caused significant transformations of quantitative character. Since the beginning of 1998 until 2013, activity on Polish market of foreign exchange grew from USD 2.7 billion to USD 7.6 billion. The goal of the paper is to show evolution of foreign exchange market with special focus on changes occurring on Polish market of foreign exchange.(original abstract)
Authors and Affiliations
Jolanta Pasionek
Keywords
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