A Textbook on Foreign Exchange

Front Matter....Pages i-xvi The Post-War System of Foreign Exchange....Pages 1-14 Organisation of the Market....Pages 15-27 How the Market Works....Pages 28-41 Transactions with Customers....Pages 42-54 Covering and Hedging....Pages 55-64 Arbitrage in Space....Pages 65-75 Time Arbitrage....Pages 76-84 Interest Arbitrage....Pages 85-94 Speculation....Pages 95-109 Technical Exchange Movements....Pages 110-122 Basic Trends of Exchanges....Pages 123-135 Movements of Forward Rates....Pages 136-145 Investment Currencies....Pages 146-152 The Euro-Dollar Market....Pages 153-162 The Inter-Bank Sterling Market....Pages 163-169 Risks, Profits and Losses....Pages 170-182 Official Intervention....Pages 183-195 Exchange Control....Pages 196-205 Foreign Exchange Policies....Pages 206-216 Past and Future of Foreign Exchange....Pages 217-232 Back Matter....Pages 233-252