PREFACE 1.The World International Finance Part One THE MARKETS FOR FOREIGN EXCHANGE 2.An Introduction to Exchange Rates 3.Forward Exchange 4.Currency Futures and Options Markets Part Two DETERMINATION LF EXCHANGE RATES 5.The Balance-of-Payments Accounts 6.Supply_and_Demand View of Exchange Rates 7.Modrn Theories of Exchange Rates 8.Alternative Systems of Exchange Rates 9.The International Financial System:Past,Present,and Future Part Three THE FUNDAMENTAL INTERNATIONAL PAREYT CONDITIONS 10.The Purchasing _Power Parity Principle 11.Interest Parity Part Four MANAGING FOREIGN EXCHANGE RISK AND EXPOSURE 12.Foreign Exposure and Risk 13.Accounting Exposure versus Real Exposure 14.Operating Exposuer 15.Hedging Risk and Exposure 16.Speculation,Market Efficiency and Forecasting Part five INTERNATIONAL INVESTMENT AND FINANCING 17.Cash Management 18.Portfolil Investment 19.Capital Budgeting for Direct Foreign Investment 20.The Growth and concerns about Multinationals 21.International Financing Part Six INSTITUTIONAL STRUCTURE OF INTERNATIONAL TRAKE AND FINANCE 22.Multinational Banking 23.Instruments Instiutions of International Trade