CHARAKTERYSTYKA RYNKU WALUTOWEGO WYBRANYCH WALUT AZJATYCKICH
CHARACTERISTICS OF FOREX MARKET OF ASIAN CURRENCIES

Summary/Abstract: The article was dedicated to the problems of functioning of the forex market concerning specified Asian currencies. It includes the thorough analysis of forex market of these currencies, as well as detailed approach to Japanese yen and Chinese yuan, as the main currencies in the region of research. In the article there was an analysis method based on researching statistical data collected by the Bank for International Settlements within the three-year project built in cooperation with central banks and supervisory institutions of most countries in the world. The latest research was executed in 2013 and covered detailed information from 1300 institutions from all over the world, mainly banks. Statistical data presented by BIS cover 35 currencies, but only 24 of them are analysed in an advanced mode. The special attention in BIS reports is dedicated to the main world currencies (USD, EUR, JPY), however, the information is also collected about market behaviour of 47 currency pairs. The other essential source of information was Eikon, one of the world’s largest information service and database supported by Thomson Reuters and used widely by professional institutional investors. Upon the analysis it was possible to achieve the detailed and specific information concerning the role of Asian currencies in global currency turnovers, especially relations between these currencies within indicated transactions of the forex market, e.g. spot, forward, fx swaps, CIRS and options. Additionally it was verified the share of specified currencies in cross rates within the operation on Asian currencies and also the spread value observed in these transactions, giving the illustration of liquidity level in yen and yuan trade.Originality/value – The literature concerning the subject was mostly focused on key Asian currencies, yen and yuan analysed separately, concentrating on macroeconomic performance of these currencies market. Therefore in this article the authors took a holistic approach and the attention of the analysis was put to comparative analysis of the market basing on specified criteria.

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