Discover how clean float exchange rates work, their benefits, and limits. Learn how supply and demand shape currency value without government interference.

Discover how managed currencies work, the role of central banks, and the benefits of exchange rate management in stabilizing ...

We offer a unifying empirical model of covered and uncovered currency premia, interest rates and spot and forward exchange rates, both in the cross section and time series of currencies. We find that ...

Why it hurts: the exchange rate moves after the deal is done, but before the cash moves. A UK manufacturer agrees to buy ...