An intro to the difference between foreign exchange spot and forward rates. For more questions, problem sets, and additional content please see: www.
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Who sets the exchange rate?
[youtube https://www.youtube.com/watch?v=G9Pd6LQGH_s&w=560&h=315]
Who sets the exchange rate?
http://www.youtube.com/v/G9Pd6LQGH_s?fs=1
The exchange rate for the pound is determined by supply and demand – it is not set by the Bank of England. To find out more about the exchange rate and how it affects you, visit our guide here: http://edu.bankofengland.co.uk/knowledgebank/does-the-bank-of-england-set-the-exchange-rate/