Foreign Exchange Market Organization in Selected Developing and Transition Economies : Evidence from a Survey

The foreign exchange market microstructures in developing and transition economies are characterized by the results from the IMF's 2001 Survey on Foreign Exchange Market Organization. The survey found that these markets are usually unified onshore spot markets for U.S. dollars, where transactions are concentrated at the bank-customer level. The trading mechanisms are usually dealer or mixed dealer/auction markets; the degree of transparency is often low; settlement systems remain risky; and the scope for price discovery is variable.
Publication date: January 2004
ISBN: 9781451842074
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Topics covered in this book

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Banks and Banking , Banks and Banking , Money and Monetary Policy , Money and Monetary Policy , foreign exchange market , exchange rate , foreign exchange markets , Financial Institutions and Services: Government Policy and Regulation , Market microstructure , foreign exchange regulation , net open foreign exchange positions

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