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The Blackwell Encyclopedic Dictionary of Finance by Dean Paxson
The Blackwell Encyclopedic Dictionary of Finance by Dean Paxson
The Blackwell Encyclopedic Dictionary of Finance provides clear, concise, up to the minute and highly informative definitions and explanations of the key concepts covering the whole of the fast changing field of contemporary finance. Bringing together specially commissioned and carefully edited entries from an international team of the world’s best known and respected finance scholars and teachers, this will become the standard reference for students, researchers, academics and practitioners. The Dictionary has been carefully designed to give both the expert and the newcomer overviews and succinct presentations of the most important concepts, terms and techniques in modern finance. With entries ranging from extended explorations of major topics to short definitions of key terms, this major reference work gives the user:Authoritative and comprehensive coverage of the whole field.A fully indexed and cross-referenced for detailed research with relevant citations for further study.Definitive entries covering the very latest development in finance.A completely international perspective and author base. This dictionary is part of the Blackwell Encyclopedia of Management which contains ten further volumes covering each of the key areas of management science developed under the editorship of Professor Cary Cooper from the Manchester School of Management and Professor Chris Argyris of Harvard Business School.
What is forex?
Quite simply, it’s the global market that allows one to trade two currencies against each other.
If you think one currency will be stronger versus the other, and you end up correct, then you can make a profit.
If you’ve ever traveled to another country, you usually had to find a currency exchange booth at the airport, and then exchange the money you have in your wallet into the currency of the country you are visiting.
Foreign Exchange
You go up to the counter and notice a screen displaying different exchange rates for different currencies.
An exchange rate is the relative price of two currencies from two different countries.
You find “Japanese yen” and think to yourself, “WOW! My one dollar is worth 100 yen?! And I have ten dollars! I’m going to be rich!!!”
When you do this, you’ve essentially participated in the forex market!
You’ve exchanged one currency for another.
Or in forex trading terms, assuming you’re an American visiting Japan, you’ve sold dollars and bought yen.
Currency Exchange
Before you fly back home, you stop by the currency exchange booth to exchange the yen that you miraculously have left over (Tokyo is expensive!) and notice the exchange rates have changed.
It’s these changes in the exchange rates that allow you to make money in the foreign exchange market.
Salepage : The Blackwell Encyclopedic Dictionary of Finance by Dean Paxson
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