Prior to the Bretton Woods agreement value of each currency based on the binding of the currency to gold, which provided the value of the currency itself. After 1944 by agreement of all currencies could be exchanged for U.S. dollar (USD), which in turn, backed by gold (GOLD). However, the increase in American money (USD) is not backed by gold has led to some changes of the entire monetary system. And on Aug. 15, 1971, U.S. President Nixon announced the decision to abolish the binding dollar to gold. These actions led to higher volatility in the currency market and created a new sphere of activity - free speculation on the difference between the rates of various currencies. Then in 1976 an agreement in Jamaica has set the current criteria of the international monetary system. These agreements come into force in 1978 under the supervision of the International Monetary Fund. Since then, freely floating exchange rates have become the main method of exchange, a way of earnings in the vibrations of these courses and the foundation of the international currency market - Forex FOREX, FX).