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British pound

foreign rebateforexbroker rebateforex cashback forex the transaction always appear in pairs, each of the two currency groups, we referred to as the currency pair of the six global currency pairs include seven major currencies, namely: U.S. dollars, euros, yen, Forex Rapid Rebates, Swiss francs, Australian dollars, Canadian dollars since needless to say, ForexRapidRebate how much do we know about the pound? Here let us take a deeper understanding of the rebateforexfee pound, which was the boss of the global currency, is the name of the British national currency and monetary unit pound issued mainly by the Bank of England, but there are other issuing institutions most commonly used to indicate the symbol of the pound is £ International Organization for Standardization for the pound to take the ISO4217 currency code for GBP  ( GreatBritainPound)In addition to the United Kingdom, the currency of the British overseas territories also take the pound as a unit, and the exchange rate with the pound is fixed at 1:1 development history of the pound for the British unit of local currency, established in 1694 by the Bank of England (Bank of England) issued a secondary unit of currency originally shillings and pence Britain officially adopted the gold standard system in 1821, the pound became the standard unit of currency in the United Kingdom. The British pound became the standard monetary unit of the United Kingdom, each 1 pound contains 7.32238 grams of pure gold 1914, the outbreak of World War I, the United Kingdom abolished the gold standard system, gold coins stopped circulation, the United Kingdom stopped exchanging gold 1925 May 13, the United Kingdom to implement the gold bullion standard system, and later because of the world economic crisis and was forced to give up on September 21, 1931, the pound evolved into a paper currency can not be cashed but Because of the need for foreign exchange control, December 18, 1946 still provides that the pound contains 3.58134 grams of gold to the early 20th century, the pound has been the capitalist worlds most important international means of payment and reserve currency, after the First World War, the pounds international reserve currency status tends to decline, gradually replaced by the dollar Second World War, the British implementation of strict foreign exchange controls, the British pound exchange rate fixed at the level of 1 pound to 4.03 U.S. dollars on July 15, 1947, the British pound announced the implementation of free convertibility, due to the rapid loss of foreign exchange reserves, in August of the same year and resume foreign exchange controls August 15, 1971 after the dollar floating exchange rate, the pound began to determine the ratio of the dollar based on the unchanged gold content December 18 of the same year after the official devaluation of the dollar, the pound The new official exchange rate against the U.S. dollar appreciated to 2.6057 U.S. dollars per pound The real exchange rate could float within the limits of 2.5471 to 2.6643 U.S. dollars per pound, with a fluctuation of about 4.5% March 19, 1973, the eight Western European countries formed a joint floating group, the United Kingdom did not participate, continued to float separately In January of the following year, the pound real exchange rate system became a managed floating exchange rate Mechanism the same year, the pound area shrunk, including only the United Kingdom, Ireland, the Cayman Islands and the Channel Islands pound issued by the gold reserve equivalent to at least 2.65 billion pounds above October 8, 1990, the pound joined the European Monetary System, its fluctuations against the exchange rates of various currencies in the currency system of 6% September 16, 1992, the United Kingdom announced that the pound temporarily left the European Monetary System February 2013 22 Moodys credit rating company officially announced the downgrade of the British debt rating, from Aaa to Aa1 This is the first time the United Kingdom lost the highest rating of authoritative rating agencies In fact, Moodys as early as February 2012, the British sovereign and central bank rating outlook from stable to negative, after a year of observation, finally formally shot down Review Moodys in March 1978 awarded the British government bonds Aaa highest rating. Standard & Poors and Fitch both gave the UK AAA top rating, but the latter two rating outlook for the UK are negative, it is estimated that they will also re-evaluate the UK Moodys concluded that the key motivation for this downgrade are three; firstly, the UK medium-term growth outlook continues to be weak, Moodys expects that the next five years will continue to be weak growth secondly, the limited medium-term growth prospects challenge the governments fiscal consolidation program, which will continue into the Even worse, the British debt is high and increasing, the government balance sheet digestion capacity gradually deteriorated, and this situation is not possible to reverse the British exit from the European Union before 2016, the pound plunged June 24, 2016, the British referendum on Brexit officially ended, the final result of the worlds shock, the United Kingdom announced the official exit from the European Union followed by the pound to start the plunge mode that day, the pound fell by Up to 8.1%, not only a record high, but also almost the 1992 British forced to withdraw from the European exchange rate mechanism triggered by the Black Wednesday fall (4.1%) twice while the decline also continued for quite some time the pound exchange rate is likely to rise back to the original level? This should be one of the most important concerns of investors at present, we from a number of financial institutions and a number of well-known analysts concluded that the pound to recover lost ground in the short term can be very difficult most views: the withdrawal of the European Union will drag down the British real economy, will lead to a significant reduction in the British foreign Europeans, which naturally also makes part of the pound holders continue to hold the pound is not very meaningful, coupled with many investors on the pound The devaluation of the pound is expected to eventually lead to the decline of the pound and difficult to recover in the short term

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