2025 CFA Level I Exam: Topic 2. Economics - Learning Module 7. Capital Flows and the FX Market

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	1. The Foreign Exchange Market describe the foreign exchange market, including its functions and participants, distinguish between nominal and real exchange rates, and calculate and interpret the percentage change in a currency relative to another currency
	2. Exchange Rate Regimes describe exchange rate regimes and explain the effects of exchange rates on countries' international trade and capital flows
	3. Capital Restrictions describe common objectives of capital restrictions imposed by governments

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