International finance through the lens of BIS statistics: the global reach of currencies

Patrick McGuire, Goetz von Peter () and Sonya Zhu

BIS Quarterly Review, 2024

Abstract: The use of key currencies in international finance far outstrips the issuing jurisdictions' share in global economic activity. The US dollar dominates globally, while the euro, yen and pound sterling have a smaller international footprint. The reach of key currencies becomes apparent only in statistics with a currency dimension. The BIS statistics on international banking, bonds and derivatives markets have had a currency dimension since their inception. This dimension is essential for assessing exposure to currency risk, squeezes in funding markets and vulnerabilities associated with foreign exchange markets.

JEL-codes: F23 F31 F36 G15 (search for similar items in EconPapers)
Date: 2024
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:bis:bisqtr:2406b

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