International Finance and Currency Markets
Organization of the Forex Market
Interbank Market
Central Banks and Monetary Authorities
Commercial Banks
Corporations and Multinational Firms
Investment Funds
Hedge Funds and Speculators
Retail Forex Market
Currency Conversion
Hedging Foreign Exchange Risk
Arbitrage Opportunities
Speculation
Global Trading Volumes
Major Trading Centers
Most Traded Currency Pairs
Spot Rate Determination
Settlement Process
Forward Rate Quotation
Forward Contract Settlement
Structure of Swap Agreements
Uses of Swaps
Calculation of Spreads
Factors Affecting Spreads
Calculating Cross Rates
Calculating Percentage Change
Interpreting Currency Movements
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2. The Balance of Payments
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4. Exchange Rate Determination and Forecasting