Research Foundation of the Association for Investment Management & Research
Currency Management: Concepts and Practices clarifies the important concepts, principles, and vocabulary related to currency management from the point of view of an investment manager. This tutorial discusses the fundamental mathematics of exchange rates and tendencies that have been manifest in the past. It deals with using currency management not only to reduce risk but also to enhance return and provides a simple performance measurement framework. Appendices summarize the algebra and currency relationships, and reference lists are included.