Foreign Exchange Markets Summary
You have now learned about the world's major foreign exchange markets-London, New York, Tokyo, and Singapore-and read about the history of the gold standard. Because fluctuating currency rates are an important aspect of international dealings, knowing how foreign exchange markets function will help ensure your success in the international business market.
• Consider the following scenario: You have been asked by a local college to write a lecture that explains the gold standard and addresses the functions of the world's major foreign exchange markets.
• Write a 1,050-to 1,400-word summary detailing the functions of the world's major foreign currency exchange markets. Discuss the positive and negative aspects of using a gold standard.