Forward Currency Markets in Asia: Lessons from the Australian Experience
12 Pages Posted: 11 Jun 2012
Date Written: September 2006
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