Forward currency markets in Asia: lessons from the Australian experience

Guy Debelle (), Jacob Gyntelberg and Michael Plumb

BIS Quarterly Review, 2006

Abstract: Capital controls have resulted in the creation of numerous offshore non-deliverable forward (NDF) markets for Asian currencies. The Australian experience in the 1970s and early 1980s indicates that an NDF market may facilitate a smooth transition to a fully convertible currency.

JEL-codes: F31 G15 G18 N25 (search for similar items in EconPapers)

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