Tokyo Foreign Exchange Market
Tokyo foreign exchange market is an invisible market, traders through modern communication facilities, network transactions.
Tokyo Foreign Exchange Market - History
Tokyo foreign exchange market, Japan has imposed strict foreign exchange controls, 50 years later, and gradually relax exchange controls. From the 70s onwards, the Tokyo foreign exchange market has developed significantly in the more diversified business, involving different from the previous range. But still can not be like London and New York as the foreign exchange market has become a truly international financial markets, but a regional foreign exchange market. This is because Japan is an export trade, accounting for a larger share of the national economy of the country, the foreign exchange impact of its entire national economy is huge, if the foreign exchange shortage phenomenon occurs, it will lead to increase in foreign exchange rates, the yen exchange rate depreciation, the domestic commodity prices to fluctuate The higher risk. Government of Japan in order to prevent exchange rate fluctuations, had to take certain measures to intervene in the market, which is the balance of the Japanese management of the foreign exchange market.
Since the 80s, the Japanese government sought to move toward the internationalization of the yen, from the Tokyo foreign exchange market, the fetters of the region restrictions so that Japan's position of strength in the world economy suited to the post-war amendment in 1980 established at the beginning of the "Foreign Trade and the Foreign Exchange Management Act, "to change the past only through government-approved foreign exchange banks and brokers in order to conduct foreign exchange business requirements to enable all banks can be in the domestic foreign exchange business. Therefore, the foreign exchange market has developed quite rapidly, with the New York foreign exchange market the size of the gap getting smaller and smaller.
Tokyo foreign exchange market - Trading characteristics Tokyo foreign exchange market to trade currency more single, currently on the market is still the largest trading dollar yen exchange trading, this is because the majority of U.S. dollar-denominated trade with Japan, the Japanese majority of overseas assets to dollar-denominated assets. After the slow growth of the U.S. economy, the yen fell against the dollar increase in trading, the yen against the euro, trading volume increased significantly.
Japan is a typical export-processing-oriented country, the Tokyo market is subject to import and export trade, the impact of a larger centralized collection and payment. Means that the market has obvious seasonal characteristics. Also due to the habit of the Japanese business and industry and corporate end of the settlement for clearing, exports are concentrated on exchange time.
Tokyo foreign exchange market - organizational structureTokyo foreign exchange market traders of foreign exchange banks, foreign exchange broker, non-bank customers and the Bank of Japan. Trading Hours 8:00-14:30 GMT. Tokyo foreign exchange market trading varieties of relatively simple, primarily the U.S. dollar / yen, euro / yen. In the transaction, the general Quotes relatively flat, but everybody in future transactions, must pay attention to the speculative role of Japanese exporters, Japanese exporters are sometimes due to speculation, so sharp on the yen in the foreign exchange fluctuations.
Tokyo foreign exchange market - trading methodsThe Tokyo foreign exchange market, the Tokyo foreign exchange market, foreign exchange transactions can be divided into three types:
(1) spot foreign exchange transactions between banks and their customers
(2) foreign exchange transactions between banks
(3) domestic banks and foreign exchange transactions between foreign banks;
The delivery period for foreign exchange division is divided into spot transactions, forward transactions and swap transactions.Tokyo foreign exchange market, interbank foreign exchange transactions through foreign exchange brokers, you can also directly. Japan's domestic enterprises and individuals to conduct foreign exchange transactions must be through the designated foreign exchange banks.
Tokyo Foreign Exchange Market - Exchange RateA, listed exchange rates, including interest rate risks, fees and other exchange rates.
Each business day at 10 am or so, banks in the interbank market, the real exchange rate as a benchmark of their listing, in principle, Japan does not change the same place of business listed on the exchange rate.Second, the market linked exchange rate to the inter-bank market, the real exchange rate as the benchmark price.
