A money changer is a person who exchanges the coins or currency of one country for that of another. This trade is thought generally to be the origin of modern banking in Europe.[1] The advent of paper money in the mid-17th century and the development of modern banking and floating exchange rates in the 20th century allowed a foreign exchange market to develop. This provided a way for banks and other specialist financial companies such as bureaux de change and forex brokers to change one countries money for another, rapidly, and with the added confidence of transparency. The 20th century also saw the development of machines that would change money such as coin dispensers and change machines. en.wikipedia.org/wiki/Money_changer
Posted on: Tue, 03 Jun 2014 18:18:07 +0000
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