Forward Currency Markets in Asia: Lessons from the Australian Experience

Debelle, Guy; Gyntelberg, Jacob; Plumb, Michael

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Forward Currency Markets in Asia: Lessons from the Australian Experience

BIS Quarterly Review, September 2006

12 Pages Posted: 11 Jun 2012

See all articles by Guy Debelle

Jacob Gyntelberg

University of Copenhagen - Department of Economics; Jyske Bank A/S

Michael Plumb

affiliation not provided to SSRN

Date Written: 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.

Keywords: Non-deliverable forwards, currency markets, Asia, Australia

JEL Classification: F310, G150, G180, N250

Suggested Citation: Suggested Citation

Debelle, Guy and Gyntelberg, Jacob and Plumb, Michael E., Forward Currency Markets in Asia: Lessons from the Australian Experience (September 2006). BIS Quarterly Review, September 2006, Available at SSRN: https://ssrn.com/abstract=1519827