The foreign exchange market in London

Quarterly Bulletin 1980 Q4
Published on 01 December 1980

This is the second in a series of background articles intended for the general reader. It describes the structure of the foreign exchange market in London, discusses how exchange rates are quoted and what determines them, and explains how deals in foreign exchange are done. There is a short account of the Bank of England's operations in the market and of its supervisory role. Because the article attempts to explain a sometimes complex area in a fairly straightforward way, the descriptions of some of the more difficult concepts have been simplified.

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Other Quarterly Bulletin 1980 Q4 articles

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