82,891
edits
Foreign exchange: Difference between revisions
no edit summary
Amwelladmin (talk | contribs) (Created page with "Foreign exchange - the conversion of one currency into another - is often conveniently, even a little wittily - referred to as "FX". It is a subject which prompts whoops of ex...") |
Amwelladmin (talk | contribs) No edit summary |
||
| (10 intermediate revisions by the same user not shown) | |||
| Line 1: | Line 1: | ||
Foreign exchange | {{g}}[[Foreign exchange]], the conversion of one {{tag|currency}} into another, is often conveniently — even a little wittily — referred to as “{{tag|FX}}”. It is a subject which prompts whoops of excitement from some people and howls of anguish from others. | ||
Some fun little facts: | Some fun little facts: | ||
==== | ====FX and [[Breach of contract|breaches of contract]]==== | ||
There was an | There was an unbroken golden stream of authority, dating back 200 years, that an English court would award you damages in [[british pound|sterling]], and that was that. This thread was broken in the celebrated case of {{casenote|Miliangos|George Frank (Textiles) Limited|1976|AC|443}} wherein the House of Lords decided it could award damages in [[Swiss Francs]]. | ||
In other news, whether you can claim [[FX]] losses for {{tag|breach of contract}} was considered, in {{casenote|President of India|Lips Maritime Corporation}} (fondly known to all as “'''[[The Lips]]'''”) to be a matter for ordinary [[remoteness of damage]] principles. Which is why you will see draftspeople at pains to specifically include “FX conversion losses” as part of the measure of loss in a contract: if plainly contemplated by the parties (or reasonably within their contemplation), you should have no trouble making out your claim in [[damages]]. | |||
===FX and {{tag|MiFID 2}}=== | |||
{{spot fx and mifid}} | |||
{{sa}} | |||
*[[Spot FX]] | |||
*[[Spot contract]] | |||