This thoroughly revised and updated Fifth Edition is a result of the enthusiastic reception accorded by the readers to the earlier editions and the wide adoption of the book in academic institutions. While retaining the major contents of the earlier editions, the new edition provides a clear understanding of the latest tools and techniques used in international finance. The book deals with contemporary financial environment and strategies, and the functional as well as operational aspects in the international financial arena. The following are new to the Fifth Edition: all chapters updated to give the latest information; three new Case Studies and four new Study Topics. The book is primarily intended as a textbook for postgraduate students of Business Management (MBA), Master of International Business (MIB), Master of Commerce, Master of Economics and Master of Financial Control (MFC). Besides, the students of Chartered Accountancy and professionals in the financial field should find the book very valuable.