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书名Foreign Exchange in Practice: The New Environment
作者Steve Anthony版本Third edition
简介
This book is written for participants in the foreign exchange market. It
attempts to explain the concepts involved in foreign exchange and the application
of these concepts to a large number of day-to-day situations.
Numerous worked examples appear in the text, and practice problems are set
out at the end of each chapter to enable the student to test her or his understanding.
The solutions to the practice problems appear in the Appendix.
The first edition of this book was written as a textbook for the Citibank
Bourse Course. The Bourse Course is a course on foreign exchange
markets and is based around a simulation game. Some of the examples in
this book refer to the fictitious currencies used in the Bourse Game.
A recurring theme throughout the book involves the interrelationship
between interest rates and exchange rates. These two markets are inextricably
linked. Changes in interest rates cause changes in exchange rates
and vice versa. The pricing of forward exchange rates and currency
options depends on the interest rates of the two currencies. Accordingly,
considerable attention is given to interest rates, particularly in Chapter 2
and Chapter 4.
Two other themes that recur throughout the book are that arbitrage
forces equilibrium pricing and that break-even rates occur where the two
alternatives have equal value.
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