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Chapter 3Postwar Techniques and Practices
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arbitrage operations authorities Bank of France Bank rate belga bill rates borrowing British Central Banks chapter commercial countries covered interest arbitrage covering the exchange dealers deposits depreciation devaluation discount on forward discrepancies exchange restrictions exchange risk extent favour fluctuations foreign centres foreign currencies Foreign Exchange market forward contract forward discount forward dollars Forward Exchange facilities Forward Exchange market Forward Exchange operations forward facilities forward franc forward margins forward market forward operations forward rate policy forward sterling forward transactions French franc funds gold standard guilder hedging important increase influence interest arbitrage Interest Parities interest rates intrinsic discount intrinsic premium liable long forward monetary official intervention outward arbitrage overvalued Parity theory period post-war premium on forward Purchasing Power Parities Reichsbank reichsmark result speculative spot dollars spot exchange spot rate spot sterling static theory support points swap operations swap transactions Swiss franc tends Theory of Forward transfer undervalued widening