The Impact of Cross Border Payments on Exchange Rates in Developing Countries

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INTL FCStone Ltd (IFL) provides global payment solutions to banks and commercial businesses, as well as government and non-governmental organizations and charities. IFL makes payments in more than 175 countries and approximately 140 currencies, using leading technology to provide competitive and transparent pricing and efficient settlement.

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Discover More From Vincent Deluard:

For governments and central banks in emerging markets, management of the local currency presents challenges – especially in import-dependent economies where the local currency unit is prone to  depreciate.

In these countries, it is important for regulators to understand the role that each participant plays in the local foreign exchange market. This includes the impact of cross-border payments providers, and how their demand for local currency affects the exchange rate.

In this exclusive interview, a former Director General of the European Central Bank, Jean-Michel Godeffroy, provides his insights on this critical issue. Using INTL FCStone Ltd as a model, he examines the prevailing market motivations and business model objectives of payment providers and discusses their effects on local currency markets – whether those markets are centralized or more market-driven.

Brief but highly informative, this article provides insights for central bankers, regulators, market participants and observers alike. You can download it for free today via the link below.

Download the Interview Here