Today’s economic reality includes a world of free-floating fiat currencies, where the value of a nation’s currency is determined by supply and demand in the global foreign exchange or forex market.

Currency arbitrage refers to the practice of taking advantage of exchange rate differences in various foreign exchange market venues to make a net profit. Currency arbitrage plays a significant role ...

Many countries go to great lengths to manage their exchange rates. Probably the most prominent recent example is the European Monetary Union, where all the members abandoned their national currencies ...

Over the past 20 years, financial institutions have made significant efforts to establish and improve their procedures for interest rate risk management, including using economic models of interest ...