As fluctuating currency rates are an significant aspect of international dealings, knowing how foreign exchange markets function will help make sure your success in international business. Keep in mind the history of gold standard for this question.

Scenario: You've been asked by the local college to write down a lecture that explains the gold standard and addresses the functions of the world's major foreign exchange markets. Write down a summary detailing the functions of world's major foreign currency exchange markets. Be sure to discuss the positive and negative aspects of using gold standard.