Mark Mobius is widely acknowledged as one of the world′s most astute investment professionals. His work as a leading emerging markets fund manager has earned him numerous accolades and global recognition.
In this introductory series, Dr. Mobius guides the novice investor through foreign exchange. Foreign Exchange: An Introduction to the Core Concepts provides an insight into where foreign exchange originated from and how foreign exchange markets have developed over the years in response to the needs of countries, communities, governments and people.
Highlights of the book include coverage of:
the history of foreign exchange, how barter trade in the Neolithic period was gradually superseded by the use of currencies
the origins of foreign exchange markets, including the importance of silver and gold in the development of these market
how paper money came to be used, starting from China and then reemerging in Europe
the importance of the Bretton Woods agreement toward the end of the Second World War
who uses foreign exchange and why they use it
the role of foreign exchange in the international monetary system
how countries pick their exchange rate regimes
the birth of the Euro in 1999
some of the currency crises that have hit financial markets in recent decades
why trading in foreign exchange is so extensive and popular around the globe
why exchange rates move up or down
how central banks affect exchange rates
the type of transactions that are available to foreign exchange markets like spot and forward transactions
new identifiable trends in foreign exchange such as electronic money and community currencies.
The rich history of foreign exchange closely tracks the history of civilisations since the Neolithic period and will continue to do so. This book is designed to pen some doors into the mysteries of foreign exchange which will help investors foster a deeper understanding of foreign exchange markets.