Economic Determinants of Foreign Exchange Rates Free Essay, Term Paper and Book Report
As our marketplace becomes increasingly globalized and our respective economies become more interdependent it is vital that we understand the forces that shape the world economy. The Foreign Exchange Market is the largest and one of the most liquid markets that exist today. The amount of average daily trading that occurs in one day is over three trillion dollars. It becomes even more important that we understand the important role the Foreign Exchange Market plays in the world of business.
What causes one currency to become more or less valuable than another? What are the factors that lead to the fluctuation that we see in the Foreign Exchange Market? There are several theories that are used to explain the movements in foreign exchange rates.
"In an efficient market all identical goods must have only one price." That is the basis for Absolute Purchasing Power Parity Theory. That is, given an identical basket of goods, the price of those goods should be identical in every market. If they are not then the exchange rate will move up or down until the purchasing ......
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