25 Jan 36) The U.S. dollar is the most
28) A U.S. corporation investing in a foreign corporation by purchasing stock on a foreign stock exchange is an example of direct foreign investment.
29) Commercial centers for foreign exchange exist only in New York and London in order to make it possible for arbitrage to work.
30) A direct quote is always denominated in U.S. dollars, since the dollar is the medium of exchange in international business.
31) An exchange rate of $1.6 per British Pound is an example of a direct quote in the United States.
32) A direct quote of $1.6 per British Pound in the United States is equivalent to a direct quote of .625 British Pounds per U.S. dollar in Great Britain.
33) Three types of arbitrage are simple arbitrage, rectangular arbitrage, and covered-expense arbitrage.
34) The forward-spot differential is the difference between the forward rate and the expected future spot rate.
35) Due to the dominance of Chinese companies in international trade, the Chinese yuan is the most frequently traded currency.
36) The U.S. dollar is the most frequently traded currency in foreign currency markets, accounting for over 40% of total trading.
37) Exchange rate risk exists in international trade contracts denominated in a foreign currency, but not in foreign portfolio investments, because the returns on investment securities are adjusted automatically for differences in exchange rates.
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