This short text (188 pages) offers a to-the-point overview of the concepts and methods to deal with the foreign exchange risk. The text is written in a user-friendly style and offers plenty of examples about managing (hedging) foreign exchange exposure from the viewpoint of the corporate Treasurer or financial manager. The book discusses the major changes in the monetary system and exchange rate arrangements, the workings of the forex market, determinants of exchange rates, different kinds of exposure to forex risk, different ways to hedge transaction exposure (forwards, money market, futures, options and swaps). In addition attention is paid to dealing with economic exposure, valuation of foreign investment projects, and how to organize forex management in the firm.