But this shift towards greater domestic demand growth in Asia will not come about smoothly if those countries currently operating under fixed or tightly managed exchange rates do not begin to promote  BIS Review 6/2006  1  greater nominal exchange rate flexibility.
Non-residents increased their holdings of South African equities listed on the Johannesburg Stock Exchange by R5.3 billion, and added a net amount of R3.4 billion to their holdings of South African bonds acquired through the South African bond market.