More than $1.5 trillion a day in Forex

The agreement was finally abandoned in 1971, and US dollar would no longer be convertible into gold. By 1973, currencies of major industrialized nations became more freely floating, controlled mainly by the forces of supply and demand which acted in the foreign exchange market. Prices were floated daily, with volumes, speed and price volatility all increasing thought-out the 1970’s, giving rise to new financial instruments, market deregulation and trade liberalizations

In the 1980’s, cross border capital movements accelerated with the advent of computers and technology, extending market continuum through Asian, European and American time zones. Transactions in foreign exchange rocketed from about $70 billion a day in the 1980’s to more than $1.5 trillion a day two decades later.