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- PDF Name: Foreign Exchange and Money Markets
- Author: Bob Steiner
- Book’s Language: English
- Published Year: 2002
- Pages: 344
- File Size: 1.86 MB
- Downloads Type: Free PDF Download Books
- PDF File Name: Foreign-Exchange-and-Money-Markets-PDFRat-.pdf
- Read PDF Online: Read Foreign Exchange and Money Markets Book PDF Online
- Category of the Book: Business & Career
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Summary of Foreign Exchange and Money Markets by Bob Steiner
Highlights of “Foreign Exchange and Money Markets”
1. Forex Market:
- Forex is a decentralized worldwide currency exchange.
- It runs 24/7.
- Banks, businesses, central banks, and traders are major participants.
2. Forex Market Functions:
- Converts currencies for international trade and investment.
- Hedging currency risks.
- Allows speculation and arbitrage.
3. Spot and forward markets:
- Spot market exchanges currencies at the current exchange rate.
- Forward market currency exchange contracts are predetermined.
4. Foreign Exchange Rate:
- Forex supply and demand determine exchange rates.
- Interest rates, inflation, political stability, and economic indicators affect currency rates.
5. Currency trading instruments:
- Currency pairs: USD/EUR, GBP/JPY, etc.
- Options: Contracts that provide the holder the right, but not the duty, to purchase or sell currencies at a predetermined price.
- Futures: Pre-arranged currency purchases and sales.
6. Money-Market Instruments:
- Treasury bills: Government-issued short-term debt.
- Bank CDs: Time deposits.
- Commercial paper: Unsecured corporate short-term debt.
7. Market Players:
- Commercial banks: Currency exchange market leaders.
- Central banks: Control money supply and interfere in Forex markets to stabilize exchange rates.
- Corporations: Trade internationally and manage currency risks with Forex.
- Speculators: Trade Forex.
8. Forex Risk Management:
- Hedging: Using financial instruments to counter currency losses.
- Forward contracts, options, and currency swaps.
9. Market Regulation:
- Governments regulate forex markets.
- Regulations ensure fair trading, transparency, and market stability.
10. Currency markets:
- Currency markets include USD, EUR, JPY, GBP, and CHF.
- Geopolitics and economics affect currency markets.
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