Exchange Rates and the International Monetary Regime

Thomas Lagoarde-Ségot () and Jean-François Ponsot
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Thomas Lagoarde-Ségot: KEDGE Business School (KEDGE BS)
Jean-François Ponsot: Université Grenoble Alpes

Chapter Chapter 10 in Ecological Economics and Finance, 2025, pp 95-104 from Springer

Abstract: Abstract Unlike other financial assets (such as equities or bonds), the value of currencies is not determined on a centralized market. Instead, currencies are traded on a global network of traders known as forex. On this over-the-counter market, foreign exchange dealers—specialized agents operating on behalf of a network of international corporations, pension funds, insurance companies, hedge funds, and other major investors—hold stocks of currencies which they are ready to buy and sell to anyone who comes to the counter (usually international banks and asset managers).

Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-71249-4_10

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DOI: 10.1007/978-3-031-71249-4_10

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