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:  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 show characteristics of sub-diffusive random walk processes .