The Markets for Non-Deliverable Forwards in Asian Currencies

Ma, Guonan; Ho, Corrinne; McCauley, Robert N.

The Markets for Non-Deliverable Forwards in Asian Currencies

BIS Quarterly Review, June 2004

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

See all articles by Guonan Ma

Robert N. McCauley

Bank for International Settlements (BIS)

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: Suggested Citation

Ma, Guonan and Ho, Corrinne 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