The Icfai University Press on Dynamics of Forex Markets and Management

The dynamics of the global forex markets has undergone dramatic changes over the years. With the evolution in high technology that provides for round-the-clock connectivity, the forex markets have extended their continuous presence in cross-border capital movements through the Asian, European and American time zones. International trade has been changing direction and the emerging economies are becoming stronger by the day. The huge reserve accumulation by the Asian countries is seen as one of the indications of the ongoing power shift in the world. To a large extent, the changing trends in the global forex markets may be taken as reflecting the changing scenario in international economic power balance.India has also been accumulating large reserves and the amount in reserves crossed the $200 billion mark recently. At this juncture, there was a call for full capital account convertibility. Capital account convertibility has already been there partially in India with ceilings in place. Recently, several policy changes took place in this direction. The rupee is also gaining strength and on this account India has become a trillion dollar economy of late. In the context of the tremendous growth of global forex markets and emergence of newer power balances in the world economy, this book "The Icfai University Press on Dynamics of Forex Markets and Management", will make useful reading, capturing the concepts and practical aspects underlying the operation of forex markets. The book presents a series of well-written articles that bring out the essence of the happenings in the global and Indian forex markets.