9
INTERNATIONAL FINANCIAL SYSTEM
LEARNING OBJECTIVES
After reading this chapter, you should be able to:
- Identify the characteristics of the international monetary system
- Understand the forces that determine exchange rates
- Outline the history of the Bretton Woods Agreement
- Explain the functioning of the foreign exchange market
- Discuss the structure and functions of the international capital market
- Explain the implications of the evolution and functioning of the international monetary system for international business
BITCOIN—THE VIRTUAL CURRENCY
The Bitcoin is the new kid on the currency block. It was born in 2009 as the world’s first cryptocurrency, developed by Satoshi Nakamoto. It is a digital currency consisting of a string of data created ...
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