国际经济学（英文版）PPT 11The_Foreign_Exchange_.pptVIP

Chapter 11 The Foreign Exchange Market and Exchange Rates Chapter Structure 1. Foreign Exchange Market 2. Equilibrium Exchange Rate 3. Exchange Rate and the BOP 4. Types of Exchange Rate 1. Foreign Exchange Market The foreign exchange market is the market in which individuals, firms, and banks buy and sell foreign currencies or foreign exchange. Characteristics Largest market in the world Continuous Functions of FX market Transfer funds or purchasing power from one nation and currency to another Provide credit for international transactions Participants in FX market Immediate users and su