Conclusion
This chapter addressed quite detailed concepts in terms of currency pairs, margin, rollover, brokers, and histories as they relate to exchange rates and PPP. It is the basic chapter to understand how exchange rates factor within the larger concept of today's currency market. More important is the concept of how a currency and how currency pairs are viewed in the context of each nation that it trades. This chapter was the foundation as currency pairs will begin the process to be priced in the traded markets. Now that an exchange rate is understood, the next chapter will address theories and foundation of effective exchange rates.
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