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Do FX traders in Bishkek have similar perceptions to their London colleagues? Survey evidence of market practitioners' views

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  • Andreas M. Fischer
  • Gulzina Isakova
  • Ulan Termechikov

Abstract

We ask whether FX dealers from Kyrgyzstan, a low income country, have similar perceptions to FX dealers from other international financial centers. Perceptions of Kyrgyz FX dealers in the interbank market are tested using detailed survey data against survey information from five major financial centers. The survey evidence finds that the FX dealers' responses from the Kyrgyz interbank market differ from those from other international financial centers. Stark differences arise in the perceptions concerning the effectiveness of central bank interventions and the influence of speculation.

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Bibliographic Info

Paper provided by Swiss National Bank in its series Working Papers with number 2007-01.

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Length: 31 pages
Date of creation: 2007
Date of revision:
Handle: RePEc:snb:snbwpa:2007-01

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Keywords: foreign exchange traders; survey study; microstructure; FX interventions;

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