Chapter 19
Currencies and
Foreign
Exchange
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Foreign Exchange and Currencies: Understanding Money, Exchange Rates, and Systems, Slides of Marketing Management
An in-depth exploration of foreign exchange and currencies, covering topics such as money, foreign exchange, exchange rate systems, and financial implications and strategies. Learn about hard and soft currencies, their functions, and the various exchange rate systems, including the gold standard, par value, crawling peg, and floating system. Discover the impact of devaluation on exports, employment, and consumer welfare. Explore hedging, early warning systems, leading and lagging, invoicing, pass-through costs, and other strategies in managing foreign exchange risks.
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2012/2013
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Chapter 19
Currencies andForeignExchange
Chapter Outline
Money
Foreign Exchange
Foreign Exchange Market
Foreign Exchange Rate
-^
Currency Equilibrium
-^
Effect of Devaluation
Chapter Outline
Financial Implications and Strategies
-^
Early Warning Systems
-^
Hedging
-^
Leading and Lagging
-^
Invoicing
-^
Pass-Through Costs
-^
Other Strategies
Money
Hard (International) Currencies vs. SoftCurrencies
Functions of Currency
-^
medium of exchange
-^
unit of account
-^
store of value
Foreign Exchange Rate
Currency Equilibrium
Effect of Devaluation
-^
Exports and Employment
-^
Imports and Consumer Welfare
Exchange Rate Systems
Gold Standard
Par Value (Adjustable Peg)
Crawling Peg (Sliding or Gliding Parity)
Wide Band
Floating (Flexible) System
Financial Implicationsand Strategies
Early Warning Systems
Hedging
Leading and Lagging
Invoicing
Pass-Through Costs
Other Strategies