"Foreign Exchange in Practice", now in its 3rd edition, is a single reference to the forex market. It explains the concepts involved in foreign exchange and their application to real-life situations. Numerous examples are given. The book was originally developed as a textbook for the Citibank Bourse Course, an intensive course available to clients and staff of Citibank improve their mastery of these markets. Examples in this new edition have been updated to include the Euro rather than the former European national currencies. The 3rd edition contains a substantial amount of new content particularly with regard to financial mathematics, interest rate swaps, option pricing and applications of option derivatives and Value at Risk.