Internationalising a Currency: The Case of the Australian Dollar

14 Pages Posted: 15 Jun 2012

See all articles by Robert N. McCauley

Robert N. McCauley

Bank for International Settlements (BIS)

Date Written: December 2006

Abstract

Asian policymakers are giving consideration to allowing their currencies to be used by non-residents. If policy allows this and a robust fixed income market provides support, the Australian experience indicates that a currency can internationalise fairly quickly, particularly if it offers a yield pickup.

JEL Classification: F3, G1

Suggested Citation

McCauley, Robert N., Internationalising a Currency: The Case of the Australian Dollar (December 2006). BIS Quarterly Review, December 2006. Available at SSRN: https://ssrn.com/abstract=1632352

Robert N. McCauley (Contact Author)

Bank for International Settlements (BIS) ( email )

CH-4002 Basel, Basel-Stadt
Switzerland

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