The floating exchange rate environment has created a need for banks and their corporate customers to manage their currency exposure on an active and commercial basis. It has also opened up great opportunities for speculators to gamble on.
Hedgers seek to remove or manage their currency risk.
Speculators seek to take currency risk in the hope of making profit. The advent of currencies derivatives has raised the stakes and complicated the transactions in both cases. These are tough markets to master. It is essential handbook for any player in the foreign exchange market. It addresses current practice and future issues and is written for both new entrants into the markets and for seasoned professionals seeking to refresh or broaden their knowledge.