Internationalising a Currency: The Case of the Australian Dollar
14 Pages Posted: 15 Jun 2012
Date Written: December 2006
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: Suggested Citation