| Abstract: | In recent years the local foreign exchange environment has changed in two important respects. The Bretton Woods system of fixed but adjustable exchange rates has collapsed, compelling South Africa to adopt a more flexible exchange rate management policy Secondly, the Reserve Bank has accumulated huge losses on forward exchange account Apart from reviewing existing forward facilities, the purpose of this article is to consider the institutional requirements for a local interbank market in both spot and forward transactions. The feasibility and benefits of such a market are examined with special attention to aspects of forward exchange. Sections: Existing forward exchange facilities Institutional changes required for interbank market - Size of markets - Intervention role of the Reserve Bank - Influence of exchange rate arrangements on forward market -Benefits of a forward market - Problems with a forward market. Notes, tables. |
Africana Periodical Literature 
Periodical article
Leiden University catalogue
WorldCat