Forex forever : the city of London and the foreign exchange market since 1850 /
The foreign exchange market is the largest in the world, with a turnover running into trillions of $s a day. Surprisingly, the centre of this market is the City of London, even though it mainly trades US$s. The reasons why this is the case have never been satisfactorily explained, given the importan...
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| Format: | eBook |
| Language: | English |
| Published: |
Oxford :
Oxford University Press,
[2024]
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| Subjects: | |
| Online Access: | Connect to the full text of this electronic book |
| Summary: | The foreign exchange market is the largest in the world, with a turnover running into trillions of $s a day. Surprisingly, the centre of this market is the City of London, even though it mainly trades US$s. The reasons why this is the case have never been satisfactorily explained, given the importance of New York as a rival financial centre. A related mystery is the absence of a foreign exchange market in London before 1914, when the City of London was at the peak of its importance. The purpose of this book is to solve these mysteries while also delivering a detailed account of the development of the foreign exchange market in London over the last 150 years. Key to the solution of both mysteries is the revelation that an active foreign exchange market did exist in London before the First World War. The result is to transform our understanding of the role played by the foreign exchange market in the global monetary system during the nineteenth and twentieth centuries. In 'Forex Forever', Ranald C. Michie examines how the foreign exchange market has developed in the City of London over the past 150 years and uncovers its secret existence in London before the First World War. |
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| Item Description: | Also issued in print: 2024. |
| Physical Description: | 1 online resource. |
| Audience: | Specialized. |
| Bibliography: | Includes bibliographical references and index. |
| ISBN: | 9780198903727 0198903723 9780198903710 0198903715 0198903707 9780198903703 |