Daily Archives: March 18, 2011

Currency speculation and arbitrage

For anyone who is confused about foreign exchange rates and speculation (which I think includes almost everyone), here is a clear explanation provided by Prof. Dr. Ahamed Kameel Mydin Meera of the International Islamic University of Malaysia. He explains it in relation to the 1997 East Asian Crisis that was brought on by speculative attacks (manipulation) on several Asian currencies.–t.h.g.