Browsing: foreign exchange in africa

The impact technology has on our world is profound and, some might say, immeasurable. Outside our personal lives, it continues to change industries and global markets at a rapid pace every single day. Foreign exchange, or forex, is one of those financial institutions that are evolving with groundbreaking advancements. But before we can fully appreciate the effects of disruptive technology on forex today and possibly the future, we have to look at how it began.

How Forex Was Traded in the Past

Trading forex is as old as the history of civilizations. In ancient times, people exchanged goods and services for a price, even if that price was represented by raw materials or food. The problem was assigning value fairly — people disagreed on whether or not the items being bartered were equal to each other. To solve this, Thought Co. points out that early civilizations developed commodity money and …