Forex history is an interesting subject that many traders do not even think about. Forex has developed colossally in the last few decades but the development of FOREX trading goes back a ways.

Early in the history of humanity there was no currency. People would exchange products and services based primarily on whatever value those things had to them. Pretty soon most societies moved to a system where all products and services were valued in terms of one special range of items which became the currency. Shortly, paper currency began to circulate. This would originally be in the form of written notes or bills promising to pay a specific amount of cash. Finally, most countries established central banks to provide and control the national currency. This was the start of forex history.