Do FX traders in Bishkek have similar perceptions to their London colleagues?: Survey evidence of market practitioners’ views

Abstract

Do foreign exchange (FX) dealers from Kyrgyzstan, a low-income country, have similar perceptions to FX dealers from other international financial centers? Perceptions of Kyrgyz FX dealers in the interbank market are tested using detailed survey data against survey information from five major financial centers. The survey evidence finds that the FX dealers’ responses from the Kyrgyz interbank market differ from those of other international financial centers. Stark differences arise in the perceptions concerning the effectiveness of central bank interventions and the influence of speculation.