Target accrual redemption forwards are the most popular currency structured products among corporate and private banking customers. This investment product facilitates an investor to hedge his currency exposure at a low cost or speculate on the direction of a currency rate with low upfront cash outflow. Nevertheless, the technical details behind target accrual redemption forwards have never been elaborated with sufficient granularity in any public documents. This results a material mis-communications among treasury marketing, corporate sales, risk management and investors. This book takes the...