Mark Mobius is widely acknowledged as one of the world’s most astute investment professionals. His work as a leading emerging markets fund manager has earned him numerous accolades and global recognition.
In this introductory series published by John Wiley & Sons (Asia) Pte Ltd, Foreign Exchange: An Introduction to the Core Concepts (ISBN: 978-0-470-82145-9) introduces the reader to both the theory and practice of foreign exchange. It provides an insight into where foreign exchange originated and how foreign exchange markets have developed over the years in response to the needs of countries, communities, governments and people. Summaries and questions throughout the text reinforce the learning experience, while anecdotes from Dr Mobius and illustrated cartoons lighten the learning load.
Dr Mobius’ new book, Foreign Exchange: An Introduction to the Core Concepts, opens with the historical background of foreign exchange and how barter trade in the Neolithic period was gradually superseded by the use of currencies. It traces the origins of foreign exchange markets, including the importance of silver and gold in the development of these markets, and how paper money came to be used, starting from China and then reemerging in Europe. Mobius also touches on the importance of the Bretton Woods agreement toward the end of the Second World War, and goes on to explain the role of foreign exchange in the international monetary system and how countries pick their exchange rate regimes.
The book also tracks the milestone birth of the Euro in 1999, as well as some of the currency crises that have hit financial markets in recent markets. It also addresses some key fundamental concepts of foreign exchange, including why trading in foreign exchange is so extensive and popular around the globe, why exchange rates move up or down, how central banks affect exchange rates and the type of transactions that are available to foreign exchange markets like spot and forward transactions. Finally, the book concludes with a review of the past and a look into the future for new identifiable trends in foreign exchange such as electronic money and community currencies.
This book, designed to open some doors into the mysteries of foreign exchange, is a lively guide simplifying the complex world of finance, bringing insight that is penetrating yet accessible to help investors foster a deeper understanding of foreign exchange markets.
About the Author
Mark Mobius received his Ph.D. in Economics and Political Science from the Massachusetts Institute of Technology and his bachelor’s and master’s degrees from Boston University. He is the author of Equities: An Introduction to the Core Concepts, Trading with China, The Investor’s Guide to Emerging Markets, Mobius on Emerging Markets and Passport to Profits.
Dr. Mobius has received the following awards: Emerging Markets Equity Manager of the Year 2001 by International Money Marketing, Top Ten Money Managers of the 20th Century in a survey by the Carson Group in 1999, Number One Global Emerging Market Fund in the 1998 Reuters Survey, 1994 First in Business Money Manager of the Year by CNBC, Closed-End Fund Manager of the Year in 1993 by Morningstar, and Investment Trust Manager of the Year 1992 by Sunday Telegraph. He was named in 2006 by Asiamoney magazine as one of the Top 100 Most Powerful and Influential People. Asiamoney said: “One of the highest profiles of any investor in the region and is regarded by many in the financial industry as one of the most successful emerging markets investors over the last 20 years. Despite tough times during the financial crisis nine years ago, he still commands a strong following in the investment world and is influencing the direction of billions of investment dollars.” He was appointed Joint Chairman of the Global Corporate Governance Forum Investor Responsibility Taskforce of the World Bank and Organization for Economic Cooperation and Development.
In 1987, he joined the Franklin Templeton organization as President of the Templeton Emerging Markets Fund, the first New York Stock Exchange listed emerging market fund. He currently directs the analysts based in Templeton’s 12 emerging markets offices in Asia, Eastern Europe, Latin America and Africa and manages the emerging markets portfolios. Dr. Mobius has spent more than 30 years in mutual fund and security analysis all over the world.
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