Introduction
Foreign exchange (FX) markets in the emerging market economies are under pressure as economic growth in China slows and the Federal Reserve scales back asset purchases (takes liquidity out of the economy). The global financial markets are already anticipating higher interest rates as we would expect. Therefore, market participants are already increasing the interest rates under their control. These events are having a tremendous negative impact on FX markets from Argentina, India, South Africa to Russia. Although less severe compared with the global jitters, the Guyana dollar also depreciated against the US$ in 2013.
I will use the column space to explain some recent trends in the domestic FX market. In the coming weeks,
