The book introduces the reader to the exciting and challenging world of international banking - from the basics to the more advanced concepts in foreign exchange business. Each concept has been introduced in a lucid manner supplemented by illustrations and easy-to-understand examples. The book provides a distinctive blend of theory and practice, the theoretical aspects being supplemented by and illustrated through their practical applications.The book also acquaints the reader with several essential but rarely discussed areas of international banking and provides unique perspectives relating to supposedly familiar topic. Indeed, this book is a must-read for everyone having anything to do with international banking and foreign exchange business. Book Salient Features The book outlines the evolution of the international finance scenario, operational aspects and polity issues of international banking, foreign exchange and risk management as well as instruments of international finance. Nostro, Vostro, mirro accounts, transaction pricing and cost control, remittances, collections treasury, dealing room operations and exchange rate mechanism have been discussed in detail and richly illustrated. Unique perspectives on all these subjects, certain practical tips and tricks of the trade add great value to the contents of the book. Includes individual chapters on reconciliation of Nostro accounts, correspondent banking, swaps forward contracts, futures and options, derivatives, LCs and trade finance; supplemented by a knowledge-bank of definitions, short notes and introductions to matters of topical interest. Evolution of the Foreign Exchange Market Methods of Payment International Remittances: Concepts International Remittance Techniques Remittances in Practice Correspondent Banking Processing Clean Instruments Reconciliation of Nostro Accounts Transaction Pricing - The Untold Story Opportunities in Correspondent Banking Mirror Accounts Estimating Exchange Profits International Banking Department: Job Descriptions Dealing Room and Treasury Operations Basics of Exchange Rates Forward Transactions Basic of Merchant Rates Exchange Rate Arithmetic Forward Contracts and Swaps Financial Futures and Options - I Financial Futures and Options - II (Options Contracts) Risk Management in Foreign Exchange UCP 500, LC and International Trade Financing International Trade The Knowledge Bank
