Eurodollar banking and currency internationalisation

Eurodollar banking and currency internationalisation

Eurodollar banking and currency internationalisation

BIS Quarterly Review | June 2012 | 04 June 2012by Dong He and Robert N McCauleyPDF full text (1,181kb) | 14 pagesIt is widely held that currencies of surplus countries, such as China, cannot enjoy wide international use. We argue that the eurodollar market has had little to do with the direction of net capital flows or the US current account balance.

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