Sun 2 Jul 2006
Currency it is a form of money.
The first goal of currency is to be a medium in exchange of goods or services. Usually, currency is not a form of capital storage (as opposite to gold, for instance). Each geographic region or country has it?s own money or currency.
The money production in this currency zone is controlled by central bank and the amount of printed money should be backed up by real accets like gold or deposits in the central banks of other countries.
Recently, several mayor European countries joined their currency into one single EURO. The creation of such big single currency zone was greatest achivements at the beginning of new century.
Mayor currencies are: Euro, US dollar, GBP british pound, CHF swiss franc, JPY Japanese yen. The market for exchanging one currency into other is a FOREX. The level of forex currency trading in a single day is in the range of tens of billions US dollars.
The rates for forex currency trading is defined by market conditions and by currency speculators .