International Finance and Currency Markets

  1. The Foreign Exchange Market
    1. Market Structure and Participants
      1. Organization of the Forex Market
        1. Interbank Market
          1. Central Banks and Monetary Authorities
            1. Commercial Banks
              1. Corporations and Multinational Firms
                1. Investment Funds
                  1. Hedge Funds and Speculators
                    1. Retail Forex Market
                    2. Functions of the Forex Market
                      1. Currency Conversion
                        1. Hedging Foreign Exchange Risk
                          1. Arbitrage Opportunities
                            1. Speculation
                            2. Market Size and Liquidity
                              1. Global Trading Volumes
                                1. Major Trading Centers
                                  1. Most Traded Currency Pairs
                                  2. Foreign Exchange Transactions
                                    1. Spot Transactions
                                      1. Spot Rate Determination
                                        1. Settlement Process
                                        2. Forward Transactions
                                          1. Forward Rate Quotation
                                            1. Forward Contract Settlement
                                            2. Foreign Exchange Swaps
                                              1. Structure of Swap Agreements
                                                1. Uses of Swaps
                                              2. Foreign Exchange Quotations
                                                1. Direct Quotations
                                                  1. Indirect Quotations
                                                    1. Bid-Ask Spreads
                                                      1. Calculation of Spreads
                                                        1. Factors Affecting Spreads
                                                        2. Cross Rates
                                                          1. Calculating Cross Rates
                                                          2. Percentage Change in Currency Value
                                                            1. Calculating Percentage Change
                                                              1. Interpreting Currency Movements

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                                                          2. The Balance of Payments

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                                                          4. Exchange Rate Determination and Forecasting