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International Finance: Recent Developments in Foreign Exchange Markets

GGD-93-154 Published: Sep 24, 1993. Publicly Released: Oct 15, 1993.
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Highlights

Pursuant to a congressional request, GAO reviewed emerging issues in foreign currency exchange markets, focusing on: (1) developments in the foreign exchange market; (2) the economics of foreign exchange rate determinations; (3) the role of speculation in foreign exchange trading; (4) the efficacy of government intervention to influence exchange rates; and (5) the European Exchange Rate Mechanism (ERM) crisis in September 1992.

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Economic growthEconomic indicatorsEconomic policiesForeign currencyForeign currency exchangesForeign exchange ratesForeign policiesInflationMacroeconomic analysisSpeculation (finance)