11.   It functioned not only as a buyer and seller in the long-term forward market but also set up many of the transactions.

12.   Many multinational corporations have hedged their positions in the forward market, spurring dollar-buying in the spot foreign exchange market.

13.   Secondly, speculators also know that the battles over the value of a currency are not acutally fought in the forward market.

14.   Soedradjad Djiwandono said all the intervention had been carried out in forward markets.

15.   Speculators began moving against the Hong Kong dollar Friday, pushing forward market premiums significantly higher as they sold it short.

16.   The non-deliverable forward market refers to deals based on differences between foreign exchange rates set at different dates, rather than real curreny transactions.

17.   The shilling floats freely in the spot and forward markets.

18.   There was no evidence of speculation against the local dollar on Wednesday based on deals in the Hong Kong dollar forward market.

19.   According to one trader, increased sales on the forward market by Ivory Coast and Nigeria have kept prices stable, despite a continued rise in purchases.

20.   Elsewhere, the gold market remained lively with heavy sales on the forward market by South African mines.