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Foreign Exchange Markets

Foreign Exchange Markets



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Published by Sukumar Nandi

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Published by: Sukumar Nandi on Apr 02, 2008
Copyright:Attribution Non-commercial


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 International Economics
An Overview
Foreign Exchange___ SN (edited)2
Foreign exchange
Foreign exchange market
Largest and most liquid market in the world __ total world turnover in asingle day in 2006 was USD 1400 billion (approx).
No central market - key markets in several cities around the world
Participating banks and brokers are in constant contact via phone andcomputer 
Three general types of transaction
Between banks and their customers
Domestic interbank market conducted through brokers
Trading with overseas banks____ 
Foreign Exchange___ SN (edited)3
The Major Players
The major players are____ 
Individuals: tourists, migrants
Firms: importers and exporters
Banks: short position, long position, square position
Governments/ monetary authorities: market intervention
International agencies: lending
Two tier market: First tier: ultimate customer and banker 
Second tier: between banks
Classifications of participants_
Non-banking entities: business transactions and hedging
Banks: foreign exchange dealers
Arbitrageurs: profit seeking from variations in rates indifferent markets
Speculators: profit seeking from movements in exchangerates

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