Vullo announced that the New York Department of Financial Services has fined Standard Chartered Bank (SCBFF) $40M for attempting to rig transactions in foreign exchange markets
between 2007 and 2013.
This and a slew of reforms for the debt and foreign exchange markets
were outlined before financial industry officials last week by the Bangko Sentral ng Pilipinas who noted an increasing demand for a more active capital market due to global developments.
The BSP has been enhancing governance and oversight over the foreign exchange markets
to further improve transparency, price discovery, and market conduct.
The high elasticity of foreign currency demand reached a point where the government stepped in and introduced four different foreign exchange markets
for various sectors.
As enunciated in the press release of Dec 2017, SBP believes that the exchange rate movements will continue to reflect the demand-supply conditions in the foreign exchange market
. SBP will continue to closely monitor the foreign exchange markets
; and stands ready to intervene to curb the emergence of speculative pressures.
This resulted in a plethora of studies on efficiency of foreign exchange markets
in these countries using different analytical tools.
Currently, trading in foreign exchange markets
is a slow process and it is believed that the new technology could provide 'near-real-time' transaction speeds.
He said recent developments in the foreign exchange markets
have raised concerns not only to the Bank of Zambia but also to the public at large and that in some cases this has led to speculative behavior and panic buying of the foreign currency and thereby inducing more pressure on the exchange rate.
Foreign exchange markets
experience a modest stress increase, and funding markets remain flat.
"With the unprecedented revenue growth of the firm for the year 2010, we can say that we have even exceeded our profit target for the last year as we have noted a revenue increase of almost 10 times the rate of the entire foreign exchange markets
," avowed Mr.
Such a measure could stimulate foreign exchange activity and foster an understanding of exchange rate risk - that is, a currency may either appreciate or depreciate, and help create future and forward foreign exchange markets
Sweeney (international finance, McDonough School of Business, Georgetown U.) presents a collection of 17 previously published empirical papers on the behavior of exchange rates and foreign exchange markets
. The papers are grouped into sections discussing fundamentals in the foreign exchange market
, statistical models of the foreign exchange market
, technical analysis of foreign exchange markets
, central bank intervention in the foreign exchange market
, and micro structure of the foreign exchange market