The risk sensitivity of international capital flow pressures is explored using a new Exchange Market Pressure index that combines pressures observed in exchange rate adjustments with model-based estimates of incipient pressures that are masked by foreign exchange interventions and policy rate...

This article describes recent developments in electronic trading in the foreign exchange market, based on a report produced by the e-commerce subgroup of the Foreign Exchange Joint Standing Committee. After a brief introduction to e-commerce in the context of the foreign exchange market, it...

This paper reviews developments and issues in the exchange arrangements and currency convertibility of IMF members. Against the backdrop of continuing financial globalization and a series of emerging market crises since 1997, there have been important changes in the evolution of exchange rate...