The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Spot and Forward Markets

  • Jacob A. Frenkel
  • Richard M. Levich
Reference work entry
DOI: https://doi.org/10.1057/978-1-349-95189-5_1813

Abstract

The foreign-exchange market is the market in which currencies of different countries are traded. The market performs two major functions: it facilitates the foreign-exchange needs of exporters and importers, and it enables individuals, corporations and governments to obtain a desired currency mix of their portfolios, both in terms of assets and liabilities.

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Copyright information

© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • Jacob A. Frenkel
    • 1
  • Richard M. Levich
  1. 1.