STRATEGIC RULES ON SPECULATION IN THE FOREIGN EXCHANGE MARKET

Dilip K. Ghosh and Arun Prakash

Journal of Financial Research, 2001, vol. 24, issue 1, 15-26

Abstract: In this article we specify the conditions for profitable speculaion in the foreign exchange market with spot and forward contracts. We derive the unique strategic rules from the initial two‐choice situations in a given environment. Finally, in a more complex structure involving covered arbitrage, speculative profits are computed with iterative plays. JEL classification: F310

Date: 2001
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