1. Money 1
2. Commercial Banks 15
3. The Federal Reserve System 31
4. The Balance of Payments 50
5. Foreign Exchange and Foreign Exchange Rate 62
6. Foreign Exchange Market Transactions 80
7. International Financial Markets 95
8. European Monetary System and Its Future Prospects 107
9. Methods of Payment in International Trade 116
10. International Trade Financing 137
11. Factoring 149
12. Forfaiting 159
13. The International Monetary Fund 171
14. The World Bank 185
15. The Development of the International Monetary System 199
Appendix Ⅰ 208
Appendix Ⅱ 219