Series: IMF Working Papers
Author(s): Subir Lall
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 December 1997
Keywords: Speculative Attacks, Forward Markets, Exchange Rates, Market Corners, central bank, exchange rate, foreign exchange, central banks, domestic currency
A typical strategy used by speculators to launch an attack on a fixed exchange regime is the use of forward markets. Central banks also intervene in forward markets to counter speculation. This paper addresses the...