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Elements of Foreign Exchange A Foreign Exchange Primer   By: (1881-)

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In "Elements of Foreign Exchange: A Foreign Exchange Primer" by Franklin Escher, readers are taken on an educational journey into the complex world of foreign exchange. Through its comprehensive content, accessible language, and practical approach, this book serves as an excellent resource for both beginners and those with more advanced knowledge in the field.

Escher begins the book by offering a concise overview of the key concepts and fundamentals of foreign exchange. He explains the importance of understanding exchange rates, currency pairs, and the various market players, providing readers with a strong foundation for what lies ahead. By demystifying technical jargon and using relatable examples, Escher ensures that even readers unfamiliar with the subject can grasp the material easily.

One notable strength of Escher's book lies in its emphasis on practicality. The author skillfully incorporates real-life examples, case studies, and interactive exercises to foster a deeper understanding of the concepts discussed. This approach allows readers to apply their newfound knowledge to real-world scenarios, preparing them for the challenges they may encounter in the foreign exchange market. Moreover, the inclusion of frequent quizzes and self-assessment questions ensures active engagement and reinforcement of the material.

Escher does an impressive job of structuring the book in a logical manner, arranging the content into distinct sections that progressively build upon one another. This organization enables readers to follow the material seamlessly and ensures they do not become overwhelmed by the intricacies of foreign exchange. Additionally, the inclusion of clear and concise summaries at the end of each chapter serves as a valuable tool for revision and consolidation of the key points.

While the book is primarily intended as an introductory guide, Escher goes beyond the basics and dives into more advanced topics, such as risk management, trading strategies, and international capital flows. This expansion makes the book particularly valuable for readers seeking a more comprehensive understanding of the subject.

One potential drawback of "Elements of Foreign Exchange" is its focus on theory rather than current market trends. Although the book provides a solid theoretical foundation, it may benefit from including more recent examples and case studies to illustrate the practical application of the concepts in a rapidly evolving global market.

Overall, "Elements of Foreign Exchange: A Foreign Exchange Primer" by Franklin Escher stands as an essential introductory resource for anyone interested in learning about the intricacies of foreign exchange. With its comprehensive content, accessible language, and practical approach, this book equips readers with the necessary tools to understand and navigate the complex world of foreign exchange. Whether you are a novice or a more experienced trader, Escher's book serves as an invaluable guide that will undoubtedly enhance your knowledge and proficiency in the field.

First Page:

Elements of Foreign Exchange

A FOREIGN EXCHANGE PRIMER

By FRANKLIN ESCHER Special Lecturer on Foreign Exchange at New York University

Fifth Edition

NEW YORK THE BANKERS PUBLISHING COMPANY 1915

LONDON EFFINGHAM WILSON, 54 THREADNEEDLE ST.

Copyright 1910 By the Bankers Publishing Co. New York

CONTENTS

PAGE

CHAPTER I. WHAT FOREIGN EXCHANGE IS AND WHAT BRINGS IT INTO EXIST 3

The various forms of obligation between the bankers and merchants of one country and the bankers and merchants of another, which result in the drawing of bills of exchange.

CHAPTER II. THE DEMAND FOR BILLS OF EXCHANGE 15

A discussion of the six sources from which spring the demand for the various kinds of bills of exchange.

CHAPTER III. THE RISE AND FALL OF EXCHANGE RATES 25

Operation of the five main influences tending to make exchange rise as opposed to the five main influences tending to make exchange fall.

CHAPTER IV. THE VARIOUS KINDS OF EXCHANGE 45

A detailed description of: Commercial "Long" Bills Clean Bills Commercial "Short" Bills Drafts drawn against securities sold abroad Bankers' demand drafts Bankers' "long" drafts.

CHAPTER V... Continue reading book >>




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