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Foreign exchange market (Three main funtions (Source of credit, Provides…
Foreign exchange market
Geographical extent
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Source of information
Bloomberg, Telerate, Reuters
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Types of transactions
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Forward
Delivery of specified amount of one currency for specified amount of another currency on a future date
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Types of quotations
Bid and ask quotations
At bid price a diller buys currency, at ask price the dealer sells currency
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Cross rates
Used for simplification of trade of insctively bought and sold currencies, which are usually coupled with an actively traded one.