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НазваThe structure of the foreign exchange market (реферат)
РозділІноземна мова, реферати англійською, німецькою
ФорматWord Doc
Тип документуРеферат
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TOC \o "1-2" I. Introduction PAGEREF _Toc535148698 \h 2


II. The structure of the foreign exchange market PAGEREF _Toc535148699

\h 3


1. What is the foreign exchange? PAGEREF _Toc535148700 \h 3


2. The participants of the foreign exchange markets PAGEREF

_Toc535148701 \h 4


3. Instruments of the foreign exchange markets PAGEREF _Toc535148702

\h 5


III. Foreign exchange rates PAGEREF _Toc535148703 \h 6


1. Determining foreign exchange rates PAGEREF _Toc535148704 \h 6


2. Supply and Demand for foreign exchange PAGEREF _Toc535148705 \h 7


3. Factors affecting foreign exchange rates PAGEREF _Toc535148706 \h



IV. Conclusion PAGEREF _Toc535148707 \h 13


V. Recommendations PAGEREF _Toc535148708 \h 14


VI. Literature used PAGEREF _Toc535148709 \h 16





























Trade and payments across national borders require that one of the

parties to the transaction contract to pay or receive funds in a foreign

currency. At some stage, one party must convert domestic money into

foreign money. Moreover, knowledgeable investors based in each country

are aware of the opportunities of buying assets or selling debts

denominated in foreign currencies when the anticipated returns are

higher abroad or when the interest costs are lower. These investors also

must use the foreign exchange market whenever they invest or borrow



I’d like to add that the foreign exchange market is the largest market

in the world in terms of the volume of transactions. That the volume of

foreign exchange trading is many times larger than the volume of

international trade and investment reflects that a distinction should be

made between transactions that involve only banks and those that involve

banks, individuals, and firms involved in international trade and



The phenomenal explosion of activity and interest in foreign exchange

markets reflects in large measure a desire for self-preservation by

businesses, governments, and individuals. As the international financial

system has moved increasingly toward freely floating exchange rates,

currency prices have become significantly more volatile. The risks of

buying and selling dollars and other currencies have increased markedly

in recent years. Moreover, fluctuations in the prices of foreign

currencies affect domestic economic conditions, international

investment, and the success or failure of government economic policies.

Governments, businesses, and individuals involved in international

affairs find it is more important today than ever before to understand

how foreign currencies are traded and what affects their relative



In this work, we examine the structure, instruments, and

price-determining forces of the world's currency markets.





The structure of the foreign exchange market


What is the foreign exchange?

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