01810cas a2200241 a 4500 AALejournalIMF004022 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451977943 1018-5941 BD-DhAAL BD-DhAAL Galbis, Vicente. Experience with Floating Interbank Exchange Rate Systems in Five Developing Economies / Vicente Galbis. Washington, D.C. : International Monetary Fund, 1993. 1 online resource (42 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper reviews the experience with floating interbank exchange rate systems in five developing countries--The Gambia, Guyana, Jamaica, Nigeria and Sri Lanka--and draws some conclusions about the stability and efficiency of these systems. The experience of these countries illustrates both the difficulties and the advantages of interbank exchange rate markets. The main conclusion is that these markets can operate relatively well with a minimum banking infrastructure, provided that the authorities remove legal and institutional impediments to the free operation of these markets including, in particular, exchange restrictions. Any residual restrictions that may remain will likely give rise to the continued existence of parallel markets. Mode of access: Internet IMF Working Papers; Working Paper ; No. 1993/036 Full text available on IMF http://elibrary.imf.org/view/journals/001/1993/036/001.1993.issue-036-en.xml IMF e-Library