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The demand and supply of foreign exchange arises from many sources: from importers and exporters, investors in foreign assets, central banks, tourists, speculators, and arbitrageurs.

The demand and supply of foreign exchange arises from many sources: from importers and exporters, investors in foreign assets, central banks, tourists, speculators, and arbitrageurs. With this in mind

"Does Arbitrage Destabilize Foreign Exchange Markets"?

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