Lecture-4a-Ch-12-Foreign-Exchange-Market-Part-1.pptVIP

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Lecture-4a-Ch-12-Foreign-Exchange-Market-Part-1.ppt

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Lecture-4a-Ch-12-Foreign-Exchange-Market-Part-1

Exchange Rates in the Short Run: Demand Curve Analysis The demand curve traces out the quantity demanded at each current exchange rate The current exchange rate and the expected future exchange rate are held constant in this analysis. Let’s see a specific example that illustrates this point. ? 2012 Pearson Prentice Hall. All rights reserved. Copyright ? 2012 Pearson Prentice Hall. All rights reserved. PART FIVE Financialmarkets Copyright ? 2012 Pearson Prentice Hall. All rights reserved. CHAPTER 15 The Foreign Exchange Market ? 2012 Pearson Prentice Hall. All rights reserved. 15-* ? 2012 Pearson Prentice Hall. All rights reserved. Chapter Preview In the mid-1980s, American businesses became less competitive relative to their foreign counterparts. By the 2000s, though, competitiveness increased. Why? Part of the answer can be found in exchange rates. In the 1980s, the dollar was strong, and US goods were expensive to foreign buyers. Chapter Preview By the 1990s and 2000s, the dollar weakened, so American goods became cheaper and American businesses became more competitive. Chapter Preview In this chapter, we develop a modern view of exchange rate determination that explains recent behavior in the foreign exchange market. Topics include: Foreign Exchange Market Exchange Rates in the Long Run Exchange Rates in the Short Run Explaining Changes in Exchange Rates Foreign Exchange Market Most countries of the world have their own currencies: the U.S dollar., the euro in Europe, the Brazilian real, and the Chinese yuan, just to name a few. The trading of currencies and banks deposits is what makes up the foreign exchange market. What are Foreign Exchange Rates? Two kinds of exchange rate transactions make up the foreign exchange market: Spot transactions involve the near-immediate exchange of bank deposits, completed at the spot rate. Forward transactions involve exchanges at some future date, completed at the forward rate. Foreign Exchange Market The next slide shows e