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The Money Machine: How the City Works by Philip Coggan (Paperback, 1995)

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Publisher: Penguin Books Ltd ISBN 13: 9780140233995. Binding: Paperback Language: english. Books will be free of page markings.

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Intended for the lay reader, this book explains the workings of the London Stock Exchange, banks and pension funds, building societies, foreign exchanges and all those institutions that make up that nebulous body, The City . The actions of these bodies have a major effect of the life of everyone, but most people have only the haziest idea how they work. This is a guide to high finance: it explains the means by which billions of pounds are borrowed and invested every day. It shows how the Foreign Exchange works and why interest rates fluctuate. The reader of this book will learn what tombstones are, what the FT 100 share index tells you, the difference between forward cover and hedging and what dollar denominated payments are.