Discussion. 1. Name a payment mechanism used in earlier times
1. Name a payment mechanism used in earlier times. What was it later re 2. Briefly describe the importance of the gold standard. 3. Under the gold standard, currencies were convertible into gold. This con 4. What is the system of fixed exchange rates? 5. What does devaluation mean? Name the countries in the Western industri 6. Are the intervention points applicable in a system of floating exchange 7. What is the function of a foreign exchange broker? 8. Name at least five active participants in the foreign exchange market. 9. Briefly describe spot and forward transactions. Give an example of each. 10. When does deliveiy of the foreign exchange take place in a spot transaction 11. When does payment and delivery of foreign exchange take place in a for 12. An open position is either long or short. Describe both types. 13. What is the difference between a bid and an offer? 14. What is arbitrage? Give an example of interest arbitrage. 15. Review how foreign exchange trading developed through the years, how Language Practice Translate into English
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