Currency Exchange Historical Rates can be gauged to ascertain how a currency pair has fared in the past.
The idea is to find the historic prices and make future predictions.
Many forex trading platforms also have a historic currency data service which you can align to.
For procuring the historical exchange rates of a particular currency pair, you have to choose a language and then feed the date range you want to look for.
Next, just push in the currency pair and the interface will automatically show the various currency exchange rates for the given period, you can confirm the rates for credit cards, cash and Interbank.
To cater to different text compatibilities, the service is available in CSV, ASCII and the much loved HTML format.
Usually the screen shots are very user-friendly and can be easily accessed by laymen.
To make your selection easier, the top currencies are generally kept at the premium boxes and next come the other liquid derivatives or little used currencies.
Currencies marked with an asterisk are signs of their obsoleteness.
Generally you have an option to sort output by country name or through currency codes.
While news trading and technical analysis is important to draw viably from forex, fundamental analysis based on the currency stability in the present and past dates is just as significant.
Currency exchange historical rates aid us in this very pursuit.
Banking on the currency's trend in the past, we can analyze where it's headed in the future.
This then is also one of the prime means to successfully trade in forex.