Global Minor Currencies Traded on FOREX |
Amount of trade in currencies of developing countries
While most of the trading is in major currencies, the economies of developing countries are more vulnerable to volatility in the international financial markets. Estimated daily gross turnover of trading in emerging market currencies in London during April 1998 was $12.5 billion, of a total gross figure of $798 billion. The most actively traded currencies at the time were, in descending order, the Czech koruna (daily turnover of $100 million), Malaysian ringgit (19), Thai baht (16), Indonesian rupiah (13), and Polish zloty (12).
|
Countries |
April 1989 |
April 1992 |
April 1995 |
April 1998 | ||||
|
ASIA |
13.6 |
19.0 |
22.1 |
20.5 | ||||
|
Indonesian rupiah |
4.8 |
7.8 |
8.7 |
8.5 | ||||
|
Korean won |
3.1 |
3.2 |
4.0 |
3.6 | ||||
|
Thai baht |
2.6 |
4.0 |
4.6 |
2.5 | ||||
|
New Taiwan dollar |
1.5 |
1.6 |
1.7 |
2.3 | ||||
|
Indian rupee |
1.6 |
1.2 |
1.7 |
2.0 | ||||
|
Malaysian ringgit |
n.a. |
1.1 |
1.2 |
1.5 | ||||
|
Philippine peso |
0.02 |
0.1 |
0.2 |
0.1 | ||||
|
LATIN AMERICA |
10.1 |
12.9 |
17.5 |
23.7 | ||||
|
New Mexican peso |
3.2 |
4.2 |
7.1 |
9.5 | ||||
|
Brazilian real |
4.3 |
5.5 |
6.7 |
8.5 | ||||
|
Argentine peso |
1.7 |
2.0 |
2.2 |
3.0 | ||||
|
Chilean peso |
0.8 |
1.0 |
1.1 |
2.2 | ||||
|
Colombian peso |
n.a. |
0.1 |
0.2 |
0.3 | ||||
|
New Peruvian sol |
0.1 |
0.1 |
0.2 |
0.2 | ||||
|
EASTERN EUROPE |
1.8 |
7.5 |
8.8 |
15.3 | ||||
|
Russian rouble |
0.6 |
2.6 |
3.7 |
10.7 | ||||
|
Czech koruna |
0.6 |
2.5 |
3.2 |
2.1 | ||||
|
Polish zloty |
0.3 |
1.6 |
0.9 |
1.7 | ||||
|
Hungarian forint |
0.3 |
0.6 |
0.4 |
0.6 | ||||
|
Slovak koruna |
0.03 |
0.2 |
0.6 |
0.2 | ||||
GNP of developing economies in relation to volume of currency traded
in Billions of dollars
| Countries |
1997 GNP |
Volume of currency traded 1997 |
|
Brazil |
773.4 |
2,040 |
|
Indonesia |
221.9 |
2,040 |
|
Korea |
485.2 |
864 |
|
Malaysia |
98.2 |
360 |
|
Mexico |
348.6 |
2,280 |
|
Russia |
403.5 |
2,586 |
|
Thailand |
169.6 |
600 |
The quantity of Indonesian rupiahs traded in 1997 was 9 times that of the country's GNP; that of Russian roubles roughly 6.5 times the size of its GNP.
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Last update August 20, 2003