Problem:
As fluctuating currency rates are an important aspect of international dealings, knowing how foreign exchange markets function will help ensure your success in the international business. Keep in mind the history of the gold standard for this question.
Scenario: You have been asked by a local college to write a lecture that explains the gold standard and addresses the functions of the world's major foreign exchange markets. Write a summary detailing the functions of the world's major foreign currency exchange markets. Be sure to discuss the positive and negative aspects of using a gold standard.