The Markets for Non-Deliverable Forwards in Asian Currencies

14 Pages Posted: 8 May 2012 Last revised: 30 Sep 2013

See all articles by Guonan Ma

Guonan Ma

Bruegel

Corrinne Ho

Bank for International Settlements

Robert N. McCauley

University of Oxford - Oxford Centre for Global History; Boston University, Global Development Policy Center

Date Written: June 1, 2004

Abstract

Trading in non-deliverable forwards on Asian currencies has grown in recent years. The offshore interest rates implied by these contracts differ significantly from onshore interest rates and suggest upward pressure on most Asian currencies.

JEL Classification: F310, G150, G180, N250

Suggested Citation

Ma, Guonan and Ho, Corrinne and McCauley, Robert N. and McCauley, Robert N., The Markets for Non-Deliverable Forwards in Asian Currencies (June 1, 2004). BIS Quarterly Review, June 2004, Available at SSRN: https://ssrn.com/abstract=1968415

Guonan Ma (Contact Author)

Bruegel ( email )

Rue de la Charité 33
B-1210 Brussels Belgium, 1210
Belgium

Corrinne Ho

Bank for International Settlements ( email )

Centralbahnplatz 2
CH-4002 Basel, Basel-Stadt
Switzerland
00 41 61 280 9100 (Fax)

Robert N. McCauley

University of Oxford - Oxford Centre for Global History ( email )

Mansfield Road
Oxford, Oxfordshire OX1 4AU
United Kingdom

Boston University, Global Development Policy Center ( email )

67 Bay State Road
Boston, MA 02215
United States

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