FX and Derivatives Markets in Emerging Economies and the Internationalisation of Their Currencies
14 Pages Posted: 28 Apr 2014
Date Written: December 2013
Derivatives markets in emerging economies have continued to grow since 2010, driven mostly by very strong growth in the OTC market. Emerging market currencies have become more international as offshore markets are a major contributor to FX turnover. The Chinese renminbi is actively traded within emerging Asia. Trading of emerging market currencies is positively related to the size of cross-border financial flows.
JEL Classification: F31, G15, G20, P45
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