The Choice of Exchange Rate Regime
This Handbook examines the role of the exchange rate in monetary policy and the factors which may determine the choice of regime, in the spectrum from free floating to indefinite fixing, or even surrendering one’s own currency. The role of official intervention in the exchange market is reviewed, as is the case for and against controls on foreign exchange transactions. Here and there, examples of the experience of particular countries are quoted. Some of these may, in time, be overtaken by events, but the basic analysis presented here should, it is hoped, remain valid. No attempt is made to offer policy prescriptions for individual countries, either in general or specific terms. The Handbook will have served its purpose if it assists those who are responsible for such decisions to reach them with confidence. This handbook is also available in Russian and Spanish.
|This book is provided by Centre for Central Banking Studies, Bank of England in its series Handbooks with number 2 and published in 1996.|
|ISBN:||1 85730 024 6 (English) 1 85730 029 7 (Russian)|
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