Contents: Trading Foreign Exchange: A changing Market in a Changing World; Some Basic Concepts: Foreign Exchange, the Foreign Exchange Rate, Payment and Settlement Systems; Structure of the Foreign Exchange Market; The Main participants in the Market; Main Instruments: Over- the- Counter Market; Main Instruments: Over - the - Counter Market; Main Instruments: Exchange - Trades Market; How dealers Conduct Foreign Exchange Operations; Managing Risk in Foreign Exchange Trading; Foreign Exchange Market Activities of the U.S Treasury and the Federal Reserve; Evolution of the International Monetary; The Determination of Exchange Rates; Epilogue: What Lies Ahead?