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Forward Currency Markets in Asia: Lessons from the Australian ExperienceGuy DebelleReserve Bank of Australia Jacob GyntelbergBank for International Settlements (BIS) - Monetary and Economic Department Michael Plumbaffiliation not provided to SSRN September 2006 BIS Quarterly Review, September 2006 Abstract: Capital controls have resulted in the creation of numerous offshore non-deliverable forward (NDF) markets for Asian currencies. The Australian experience in the 1970s and early 1980s indicates that an NDF market may facilitate a smooth transition to a fully convertible currency.
Number of Pages in PDF File: 12 Keywords: Non-deliverable forwards, currency markets, Asia, Australia JEL Classification: F310, G150, G180, N250 Accepted Paper SeriesDate posted: December 7, 2009Suggested Citation |
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