Looking back on the development history of the international foreign exchange market, the international foreign exchange market has mainly experienced the following stages:

(1)1Before the 8th century, precious metals were used as the evaluation criteria for currency exchange between the two countries;

(2) The gold standard is the most systematic international payment system; In human history;

(3) After the Second World War, it evolved into a gold standard system centered on the International Monetary Fund-Bretton Woods system.

(4) After1970, countries adopted floating exchange rate system, represented by Jamaica Agreement.