There also a mark positive in the microstructure of domestic foreign exchange market. Interbank forex liquidity is now easier with a greater interbank trading volume in the range of USD 1,5–1,8 billion a day, compared to only USD 200–500 million average during mid-2013 (Graph 5).
Moreover, there is a greater transparency in the forex price discovery and the market seems to take the JISDOR onshore fix as positive. 13. This positive development in the forex market microstructure certainly help alleviate the past perception where the central bank was perceived as the sole main supplier of US dollar.