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The Gnomes of Zurich Play in the Largest Market in the World

In: The New International Money Game

Author

Listed:
  • Robert Z. Aliber

    (University of Chicago)

Abstract

On a busy day, the volume of trading in the foreign exchange market is $400 billion — and since there are 250 trading days in a year, the yearly volume is $ 100,000 billion — which is three or four times world GDP. The volume of daily transactions in foreign exchange is 20–40 times larger than the volume of international trade and investment, which leads to the question of why the transactions volume is so large.

Suggested Citation

  • Robert Z. Aliber, 2002. "The Gnomes of Zurich Play in the Largest Market in the World," Palgrave Macmillan Books, in: The New International Money Game, edition 0, chapter 4, pages 60-85, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-50097-6_4
    DOI: 10.1057/9780230500976_4
    as

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