Currency Exchange Rates: Understanding Equilibrium Value (2025 Level II CFA® Exam–Economics–Module1) скачать в хорошем качестве

Currency Exchange Rates: Understanding Equilibrium Value (2025 Level II CFA® Exam–Economics–Module1)

Ace CFA Level II Economics on Currency Exchange Rates. This lesson explains how exchange rates are quoted and move, how to compute and interpret bid offer spreads, and how to spot and price triangular arbitrage. You will learn spot versus forward rates, forward premium or discount, and mark to market of forwards. We connect covered and uncovered interest parity, PPP, and the International Fisher Effect to real forecasting. We also cover the carry trade, balance of payments flows, monetary and fiscal policy, central bank intervention, and currency crisis warning signs. What you will learn • Quote conventions, direct vs indirect quotes, bid and offer • Triangular arbitrage steps and profit calculation • Forward rate parity and forward premium or discount • Mark to market of a forward contract • Covered and uncovered interest parity, PPP, IFE • Carry trade mechanics and risks • Balance of payments channels and policy impacts • Government intervention and crisis signals Study with AnalystPrep: Level I: https://analystprep.com/shop/cfa-leve... Level II: https://analystprep.com/shop/learn-pr... Levels I, II & III (Lifetime access): https://analystprep.com/shop/cfa-unli... Prep Packages for the FRM® Program: FRM Part I & Part II (Lifetime access): https://analystprep.com/shop/unlimite... Topic 3 – Economics Module 1 – Currency Exchange Rates: Understanding Equilibrium Value 0:00 Introduction and Learning Outcome Statements 6:30 LOS: Calculate and interpret the bid-offer spread on a spot or forward currency quotation and describe the factors that affect the bid-offer spread. 10:23 LOS: Identify a triangular arbitrage opportunity and calculate the profit, given the bid-offer quotations for three currencies. 18:05 LOS: Distinguish between spot and forward rates and calculate the forward premium/discount for a given currency. 26:40 LOS: Calculate the mark-to-market value of a forward contract. 30:47 LOS: Explain international parity conditions (covered and uncovered interest parity, forward rate parity, purchasing power parity, and the international Fisher effect). 42:21 LOS: Describe the relations among the international parity conditions. 46:17 LOS: Evaluate the use of the current spot rate, the forward rate, purchasing power parity, and uncovered interest parity to forecast future spot exchange rates. LOS: Explain approaches to assessing the long-run fair values of an exchange rate. 48:13 LOS: Describe the carry trade and its relation to uncovered interest rate parity and calculate the profit from the carry trade. 51:56 LOS: Explain how flows in the balance of payment accounts affect currency exchange rates. 57:20 LOS: Explain the potential effects of monetary and fiscal policy on exchange rates. 1:04:13 LOS: Describe objectives of the central bank or government intervention and capital controls and describe the effectiveness of the intervention and capital controls. 1:08:33 LOS: Describe warning signs of a currency crisis. #CFA #CFAExam #CFALevelII #Economics #FX #ExchangeRates #ForwardRates #Arbitrage