- CFA Exams
- 2023 Level I
- Topic 2. Economics
- Learning Module 15. Currency Exchange Rates
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Learning Outcome Statements PDF Download
| 1. The Foreign Exchange Market define an exchange rate and distinguish between nominal and real exchange rates and spot and forward exchange rates; describe functions of and participants in the foreign exchange market; | |
| 2. Exchange Rate Quotations calculate and interpret the percentage change in a currency relative to another currency; | |
| 3. Cross-Rate Calculations calculate and interpret currency cross-rates; | |
| 4. Forward Calculations calculate and outright forward quotation from forward quotations expressed on a points basis or in percentage terms; explain the arbitrage relationship between spot rates, forward rates, and interest rates; calculate and interpret a forward discount or premium; calculate and interpret the forward rate consistent with the spot rate and the interest rate in each currency; | |
| 5. Exchange Rate Regimes describe exchange rate regimes; | |
| 6. Exchange Rates, International Trade, and Capital Flows explain the effects of exchange rates on countries' international trade and capital flows. |
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