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What drives the growth in FX activity? Interpreting the 2007 triennial survey

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Author Info
Gabriele Galati
Alexandra Heath
Abstract

The most recent BIS triennial survey shows that turnover in foreign exchange markets increased by more than 70% over the three years to April 2007. Two specific findings stand out. First, the growth in transactions between banks and other financial institutions was particularly strong, consistent with the increasing importance of hedge funds, as well as portfolio diversification by institutional investors with a longer-term horizon, such as pension funds. Second, there has been a marked increase in turnover involving emerging market currencies.

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Publisher Info
Article provided by Bank for International Settlements in its journal BIS Quarterly Review.

Volume (Year): (2007)
Issue (Month): (December)
Pages:
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Handle: RePEc:bis:bisqtr:0712g

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Find related papers by JEL classification:
F31 - International Economics - - International Finance - - - Foreign Exchange
G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
G20 - Financial Economics - - Financial Institutions and Services - - - General

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This page was last updated on 2008-4-29.

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