Foreign Exchange Market Organization in Selected Developing and Transition Economies: Evidence from a Survey

Author/Editor:

Jorge I Canales Kriljenko

Publication Date:

January 1, 2004

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary:

The foreign exchange market microstructures in developing and transition economies are characterized by the results from the IMF's 2001 Survey on Foreign Exchange Market Organization. The survey found that these markets are usually unified onshore spot markets for U.S. dollars, where transactions are concentrated at the bank-customer level. The trading mechanisms are usually dealer or mixed dealer/auction markets; the degree of transparency is often low; settlement systems remain risky; and the scope for price discovery is variable.

Series:

Working Paper No. 2004/004

Subject:

Banking Currencies Currency markets Exchange rates Foreign exchange

English

Publication Date:

January 1, 2004

ISBN/ISSN:

9781451842074/1018-5941

Stock No:

WPIEA0042004

Pages:

45

Please address any questions about this title to publications@imf.org