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International Currency Converter

An international currency converter is a wonderful tool that individuals can use in order to keep track of the changes in currency exchange rates. By using a currency converter, it is possible to choose an initial currency from a particular country and then to compare another currency with it. In the past, gold was used as the standard to determine what a particular country's currency was worth. As an example, imagine that in the United States of America, an ounce of gold could be purchased for $36. In another country such as Great Britain for instance, the cost of that same ounce of gold would be 12 British pounds. This shows a difference in the cost of purchasing an ounce of gold between the two countries as being approximately three to one, resulting in an exchange rate of approximately one British pound for every three American dollars. In 1971, using gold as a basis for establishing the value of currency was done away with as fears grew that the United States of America could no longer back the currency in the world with its gold reserves. This eventual demise actually began at the end of World War II when the United States of America began pouring money into foreign countries in order to aid in rebuilding them. It was assumed that so much money had been given out worldwide that it was considered improbable that the US had enough gold to back it up. An International Currency Converter TodayAn international currency converter is based on the going rate that currency is traded at today. By simply putting in the amount of money in one currency, a computer program can generate what that money is worth in the currency from another country chosen. These rates can change based on various market indices that are taking place in the country.

Forex Course
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Forex Trading Training
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Foreign Currency Trading
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Forex Mentoring
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