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Fixed Exchange Rates
Beginning of essay
In a regime of , how might a Central Bank operate its
monetary policy and its policy for intervention in foreign exchange
markets? Why does it need foreign exchange reserves?
The last 20 years have seen an increased international interdependence due
to the reduction in the controls on capital flo ....
Middle of essay
....olicy are the same as those of economic policy generally. They
are the maintenance of full employment, price stability, a satisfactory
rate of economic growth, and a balance of payments equilibrium.
Under a fixed exchange rate regime, governments are committed to
intervention in the foreign exchange market to maintain a given nominal
exchange rate. It is important by the central bank to intervene in order
to buy or sell the foreign exchange in the open market economy. It is
very apprehe.... |
| Number of words: 1526 |
Approximate pages: 6 |
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