The internationalisation of EME currency trading 1

The internationalisation of EME currency trading 1

The participation of non-residents in foreign exchange (FX) markets for emerging market economy (EME) currencies has increased to the point where these markets are almost as internationalised as those for advanced economy (AE) currencies. Nevertheless, the overall volume of trading in many EME curre...

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Veröffentlicht in:BIS Quarterly Review 2022-12, p.49-65
Hauptverfasser: Caballero, Julián, Maurin, Alexis, Wooldridge, Philip, Xia, Dora
Format: Magazinearticle
Sprache:eng
Schlagworte:
Currency
Derivatives
Economic activity
Emerging markets
GDP
Globalization
Gross Domestic Product
Hedging
Institutional investments
International finance
Market economies
Nonresidents
Over the counter trading
Participation
Portfolio investments
Portfolio management
Securities markets
Trends
Turnover
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Beschreibung
Zusammenfassung:The participation of non-residents in foreign exchange (FX) markets for emerging market economy (EME) currencies has increased to the point where these markets are almost as internationalised as those for advanced economy (AE) currencies. Nevertheless, the overall volume of trading in many EME currencies relative to economic activity remains much less than that in AE currencies. This reflects EMEs' smaller domestic investor base and lower degree of international financial integration.
ISSN:1683-0121