Acckauned fir uts ckarutt, Exchange Rates and International Finance provides an approachable guide to the causes and consequences of exchange rate fluctuations, enabling you to grasp the essentials of the theory and its relevance to major events in currency markets. The book remains oriented towards exchange rate determination, giving particular emphasis to the contributions of modern finance theory. Both fixed and floating exchange rate models, and empirical results, are explored and discussed. Retaining classic features built up over the years - such as a clear, non-technical explanation of the issues and a focus on intuitive understanding and interpretation of economic arguments rather mahtematical detail - the fifth edition has been thoroughly updated to reflect recent events on the monetary/financial.