Foreign Currency Market

The birth of the Euro


h1 Martes, Febrero 12th, 2008

The birth of the Euro is without any doubts a historical success for the European Union. Even if at the beginning it was not completely accepted, after some years the euro was more accepted that critised in most of european countries.
Almost 30 years after the creation of the European Economy Community in june 1988, the european council confirmed that il would take part of Europe with a unique currency: euro.
The euro was officialy launched on January 1st, 1999 fixing the exchange rates of the eleven nations that adopted it firstly. Finally on January 1st 2002 euro starts to circulate during the lapse that was taken to issue the currency.
Six months after that, in July of this same year official currencies are taken out of each country so that euro becomes the asset of the members of this new step.
After some time, euro began to have more success and many countries saw in euro the possibility of improving their economies, and that’s why since its appearance many nations have continued taking part of the euro market that is becoming stronger every minute.

The birth of the american dollar


h1 Lunes, Febrero 4th, 2008

The american dollar is the official american currency, actually the amercan dollar is the foreign currency with is used in the principal transactions all over the world.
The american dollar history is not easy to explain but it has its origin in the years of Carlos I King of Spain, when he ordered that the territory that is actually called Mexico, had a currency similar to the one used in Europe called Thealer, that because of a pronunciation matter it was called daler by those who used to live there.
Some years later Benjamin Franklin travelled to London to ask permission for issueing currency and so, stop depending on pounds to finance the civil war that was taken place in american land. The proposal was rejected and Franklin decided to finance the war with currency called continental. One the war was over, United States needed a strong currency to be able to stabilize its incipient economy and continental was not able to offer neither security nor support to the new country project.
Alexander Hamilton, the Exchequer Secretary, decided to adopt the mexican daler that became the dollar because of the american pronunciation, this is the was the daler became the american dollar.
The american dollar let the United States become a unified nation, an made the world noticed it.