Description

As from issue number 50, the Series of Economic Studies of the Central Bank of Chile will be called Studies in Economic Statistics.

This document presents the international evolution of the foreign exchange markets, including the Over the Counter (OTC) derivatives activity, between 1998 and 2013. The main data source is the Triennial Central Bank Survey of foreign exchange and derivatives market activity coordinated by the Bank for International Settlement’s, in which more than 50 economies participated in its latest version. This study complements and updates previous works, from 2007 and 2010. The document is organized as follow. The first section presents an introduction. The next section shows an international comparison, considering different markets indicators such as depth, liquidity, integration and concentration. The third section studies the evolution of the Chilean foreign exchange market and their main participants, including the non-residents sector. The last part summarizes the conclusions.