Earlier, when internet was not a part and parcel of the daily life, people use to have the currency conversion values by using the mechanical calculators after accessing information from television, newspapers etc. Once the internet started invading each and every household, it became a matter of time before one investor could access all the relevant information online by employing various currency converters that were going to be available freely.
In today’s scenario, there are very many websites, which include information about various international currencies and different financial markets across the globe, which also arise the need to have their won currency converter on their websites. Some of these websites create their own currency converters and even share them with other webmasters for free usage, thereby publicizing their respective websites at the same time.
If someone starts looking deep into the history of currency converters, it will be the year 1995 that the internet revolution actually started. Although internet was in the world much before that also, but it was only around mid-nineties that I became a household name and became accessible to one and all. And with this intrusion of internet, many organizations started to get their own websites and developed online commercial business that catered to various online users across the globe.
Oanda.com and Xe.com, two of the largest biggest currency websites, which are online today, recognized the need to make available, the currency information online. Every person was of the view that the conditions in various financial markets changed every second and till that time, there was not actual way available to the public that updated this information so quickly. It was the arrival of internet only that technology looked a bit simple.
By the arrival of internet, a race begun to develop various online services that could be used bay a large chunk of online users. The leading websites immediately realized that if they are able to provide such information first, they are going to rule this market for long period of time. At the same time, the feature of providing historical rates was not though of, but then, the things started to progress. The evolution of online currency converter tools spread by word of mouth, which increased their popularity as well as of the website developing those currency converters.
Xe.com and Oanda.com are cited as the world leaders in this filed but actually, there are hundreds of currency converters available in the online market today. These two websites offer a wide range of currency related services, focusing mainly of the financial field. Xe.com foresaw the advantages of providing an online currency converter and the increasing popularity of its currency converter helped the website to increase its customer base as well as increasing people’s accessibility to the currency converter. This also aided the company to appear at the op in most of the search engines, when users search for online currency converters.
If we talk of today’s scenario, the historical exchange rates might come into picture a little later. Now, some of the website offer only the current rates of exchange for their currency converters and do not provide the option of visiting the historical rates of exchange. In contrast to this, the website who provide the historical rates of exchange, also attract a large customer base as many financial investors makes their decisions on today’s money markets, based on the rates prevailing earlier in the financial world.
If various website are explored for their historical content, the data available for currency converters would be difficult to locate. Only a handful of sites go back to 1990 as the starting year while most of the others resort to mid-nineties as their launch date. In all this analysis, one important thing that pops out is that the websites having currency converters enjoy a larger rate of success as compared to websites without the online currency converters.
In tune with many other things that are readily available in our lives, the currency converters are now one of those online tools, which are a way of life. These converters are freely available on the internet and the online user just needs to enter few choices and wait for a few moments so as to receive the final results.
But at the same time, if it’s easy and freely available, one cannot subdue its impact of day to day lives of human beings. Everyone across the world employs the help of a currency converter to plan for international holidays before taking their breaks. Also, if an individual is practicing foreign exchange dealing, then he/she needs a currency converter for sure and this applies to the tool’s historical versions as well.
The online and freely available currency converters have also become a part of our lives and people have them on their laptops and desktops, to access wherever and whenever one needs them. This is because of the numerous websites that started this business in and around the mid-nineties that almost everyone is able to benefit themselves from these currency converters.