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Exchange Rates And The Foreign Exchange Market

In: ISLAMIC CAPITAL MARKETS A Comparative Approach

Author

Listed:
  • Obiyathulla Ismath Bacha
  • Ali Zhang Hengchao
  • Mirzet Šeho

Abstract

This chapter is designed to provide an overview of foreign exchange markets, its activities, and the instruments traded. The chapter begins with a discussion of what exchange rates are, how they are quoted, and how changes in exchange rates are measured. Exchange rate exposure and its management are examined in depth. The chapter concludes with an examination of Shariah-compliant techniques for managing currency exposure. On completing the chapter, you should have a good understanding of how foreign exchange markets work and of the Shariah-compliant alternatives now available

Suggested Citation

  • Obiyathulla Ismath Bacha & Ali Zhang Hengchao & Mirzet Šeho, 2025. "Exchange Rates And The Foreign Exchange Market," World Scientific Book Chapters, in: ISLAMIC CAPITAL MARKETS A Comparative Approach, chapter 12, pages 341-375, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789819815975_0012
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    JEL classification:

    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
    • F3 - International Economics - - International Finance
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation

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