Foreign exchange market an introduction
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ForeignExchangeMarket:An
Introduction
Prof.DrAPFaure
Downloadfreebooksat
AP Faure
Foreign Exchange Market:
An Introduction
2
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Foreign Exchange Market: An Introduction
1st edition
© 2013 Quoin Institute (Pty) Limited & bookboon.com
ISBN 978-87-403-0590-6
3
Download free eBooks at bookboon.com
Foreign Exchange Market:
An Introduction
Contents
Contents
1
Essence
8
1.1
Learning objectives
8
1.2
he foreign exchange market in a nutshell
8
1.3
Organisational structure of the forex market
11
1.4
Monetary unit
14
1.5
Foreign exchange and bank deposits
14
1.6
International spot rate quotation conventions
17
1.7
Two-way spot prices
19
1.8
Spread
20
1.9
Cross rates
22
1.10
Foreign exchange risk: appreciation and depreciation
27
1.11
Spot and derivative forex markets
30
1.12
Why exchange rates are important
31
1.13
Summary
32
1.14
Bibliography
32
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Foreign Exchange Market:
An Introduction
Contents
2
Derivatives: forwards
34
2.1
Learning objectives
34
2.2
Introduction
34
2.3
Derivatives markets
35
2.4
Deinition of a forward
37
2.5
Types of forwards
38
2.6
Outright forward foreign exchange contracts: functions and pricing
46
2.7
Forward exchange market
56
2.8
Summary
57
2.9
Bibliography
57
3
Derivatives: futures, options & swaps
59
3.1
Learning objectives
59
3.2
Introduction
60
3.3
Currency futures
61
3.4
Currency options
68
3.5
Currency swaps
71
3.6
Summary
72
3.7
Bibliography
73
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