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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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Money
Foreign Exchange
Foreign Exchange Market
Foreign Exchange Rate
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Currency Equilibrium
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Effect of Devaluation
Financial Implications and Strategies
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Early Warning Systems
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Hedging
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Leading and Lagging
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Invoicing
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Pass-Through Costs
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Other Strategies
Hard (International) Currencies vs. SoftCurrencies
Functions of Currency
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medium of exchange
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unit of account
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store of value
Currency Equilibrium
Effect of Devaluation
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Exports and Employment
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Imports and Consumer Welfare
Gold Standard
Par Value (Adjustable Peg)
Crawling Peg (Sliding or Gliding Parity)
Wide Band
Floating (Flexible) System
Early Warning Systems
Hedging
Leading and Lagging
Invoicing
Pass-Through Costs
Other Strategies