If foreign exchange rates were always the same,a large amount of valuable management time would be saved,and in fact this subject would be unnecessary.However,rates do move ,and sometimes with dramatic and disconcerting rapidity.Even the best known and most widely used currency in the world,the U.S dollars(USD),has experienced major rate adjustments in the last decade.For example,the dollar traded at 195 Yen in December 1978,increased 36 percent in value against the Yen in September 1982,and then fell 53 percent to 124 Yen in December 1987.
By mid-1990 it was trading in the 160-Yen range and fell again to about 135 Yen in early 1991.
Patrick Abboud
info@capinco.com
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http://www.markets.com/lp/
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