Occasional Papers

Floating Exchange Rates in Developing Countries: Experience with Auction and Interbank Markets

Author/Editor:

Kyong Mo Huh ; Benedicte Vibe Christensen ; Peter J. Quirk ; Toshihiko Sasaki

Publication Date:

May 15, 1987

Summary:

In recent years, an increasing number of developing countries have adopted market-determined floating exchange rates. This development has represented a significant step forward in the evolution toward exchange rate flexibility that has taken place in the developing country group since the adoption of generalized floating by industrial countries in 1973.

Series:

Occasional Paper No. 1987/004

Subject:

Currency markets Exchange rate arrangements Exchange rates Financial markets Floating exchange rates Foreign exchange