Before revision:  The distinct nature of the fluctuation dynamics for currencies of developed , emerging and frontier economiesare characterized in detail by detrended fluctuation analysis and variance-ratio tests, which shows that less developed economies are associated with sub-diffusive random walk processes .
After revision:  We also show that in contrast to uncorrelated random walks exhibited by the exchange rate dynamics for currencies of developed , emerging and frontier economiesare characterized in detail by detrended fluctuation analysis and variance-ratio tests, which shows that less developed economies are associated with sub-diffusive random walk processes .