Examlex
The graph of two variables, x and y, is a horizontal line. This result indicates that x and y are
Spot Exchange Rate
The immediate rate at which one can purchase or sell currency for on-the-spot delivery.
London Interbank Offer Rate
LIBOR; a benchmark interest rate at which major global banks lend to one another in the international interbank market for short-term loans.
Covered Interest Arbitrage
A trading strategy in which an investor uses a forward contract to hedge against exchange rate fluctuations, exploiting the interest rate differentials between two countries.
Uncovered Interest Parity
A financial theory suggesting that expected differences in interest rates between two countries will equal the expected change in exchange rates between their currencies.
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