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Foreign Exchange: The Complete Deal by James Sharpe

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5. Foreign Exchange in Practice

In the opening chapters I have covered the history and theory of foreign exchange with a view to understanding the processes behind exchange rate determination. This forms an essential platform for a look at the practical issues in transacting foreign exchange, which is the core of the book.

In this chapter I shall be looking at the technical aspects of foreign exchange. This includes how foreign exchange prices are quoted. The concepts of different transactions – including spot, forward and swaps – and how they are calculated will be explained. At every opportunity I shall be applying this technical base to transactions that occur regularly.

Price quotations

A rate of exchange is defined as the price of ...

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