The Gnomes of Zurich Play in the Largest Market in the World

Robert Z. Aliber
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Robert Z. Aliber: University of Chicago

Chapter 4 in The New International Money Game, 2002, pp 60-85 from Palgrave Macmillan

Abstract: Abstract On a busy day, the volume of trading in the foreign exchange market is $400 billion — and since there are 250 trading days in a year, the yearly volume is $ 100,000 billion — which is three or four times world GDP. The volume of daily transactions in foreign exchange is 20–40 times larger than the volume of international trade and investment, which leads to the question of why the transactions volume is so large.

Keywords: Exchange Rate; Central Bank; Foreign Exchange; Exchange Market; Foreign Exchange Market (search for similar items in EconPapers)
Date: 2002
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-50097-6_4

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DOI: 10.1057/9780230500976_4

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