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Lecture Global financial management - Topic 3: Exchange rates, quotes, transactions, and appreciations

Topic 4 - The identification, measurement, and mitigation of translation and transaction foreign exchange exposure. In this chapter, students will be able to understand and can apply the following concepts to business situations. Students also will be able to identify, measure, and mitigate translation and transaction exposure. | Topic #3: Exchange Rates, Quotes, Transactions, and Appreciations L. Gattis Global Financial Management 1 Learning Objectives 2 Students can obtain and interpret exchange rates Students can convert currencies using direct and indirect quotes and cross rates Students can compute and interpret currency appreciations and depreciations Students can forecast appreciations using PPP and IRP Direct and Indirect Prices: Latte 3 The price of a Latte is 3.30 U.S. dollars Direct Price Quote: $3.30/Latte This a called a direct quote in USD for an American You could also say that the Latte price of a USD is 0.3030 Latte Indirect Quote: L0.3030/USD This a called a indirect quote Lattes are always quoted in direct terms $3.30 Direct and Indirect Prices: Euro 4 The price of a Euro is 1.10 U.S. dollars Direct Quote: $1.10/Euro This a direct quote in USD for an American You could also say that the euro price of a USD is .91 euro (1/1.10) Indirect Quote: €0.91/USD This a called a indirect quote The euro is usually quoted in direct terms $1.25/€ Direct and Indirect Prices: Danish Kroner 5 The price of one Krone is .16 U.S. dollars Direct Quote: $0.16/Krone This a direct quote in USD for an American You could also say that the krone price of a USD is 6.25 krone Indirect Quote: Kr 6.25/USD This a called a indirect price The krone is usually quoted in indirect terms, others include Jap. Yen, Swiss Franc, Can. dollar, Chinese yuan, Mexican peso, Chilean peso. Kr6.25/$ ISO Currency Codes Brazilian Real = CLP 6 http://en.wikipedia.org/wiki/ISO_4217 Bloomberg.com and Currency Pairs 7 http://www.bloomberg.com/markets/currencies/fxc.html Pairs Format BASE-QUOTE (EUR-USD) BASEQUOTE (EURUSD) BASE/QUOTE (EUR\USD) Currency Conversions . | Topic #3: Exchange Rates, Quotes, Transactions, and Appreciations L. Gattis Global Financial Management 1 Learning Objectives 2 Students can obtain and interpret exchange rates Students can convert currencies using direct and indirect quotes and cross rates Students can compute and interpret currency appreciations and depreciations Students can forecast appreciations using PPP and IRP Direct and Indirect Prices: Latte 3 The price of a Latte is 3.30 U.S. dollars Direct Price Quote: $3.30/Latte This a called a direct quote in USD for an American You could also say that the Latte price of a USD is 0.3030 Latte Indirect Quote: L0.3030/USD This a called a indirect quote Lattes are always quoted in direct terms $3.30 Direct and Indirect Prices: Euro 4 The price of a Euro is 1.10 U.S. dollars Direct Quote: $1.10/Euro This a direct quote in USD for an American You could also say that the euro price of a USD is .91 euro (1/1.10) Indirect Quote: €0.91/USD This a called a indirect quote The .