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Official Foreign Exchange Intervention

Author

Listed:
  • Mr. Jorge I Canales Kriljenko
  • Mr. Cem Karacadag
  • Roberto Guimarães-Filho
  • Mr. Shogo Ishii

Abstract

Despite increasing exchange rate flexibility, central banks in emerging markets still intervene in their foreign exchange markets for several reasons. In doing so, they face many operational questions, including on the degree of transparency and the choice of markets and counterparties. This paper identifies elements of best practice in official foreign exchange intervention, presents survey evidence on intervention practices in developing countries, and assesses the effectiveness of intervention in Mexico and Turkey.

Suggested Citation

  • Mr. Jorge I Canales Kriljenko & Mr. Cem Karacadag & Roberto Guimarães-Filho & Mr. Shogo Ishii, 2006. "Official Foreign Exchange Intervention," IMF Occasional Papers 2006/001, International Monetary Fund.
    • Handle: RePEc:imf:imfops:2006/001
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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=17920
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    Cited by:

    1. Rojas-Bernal, Alejandro & Villamizar-Villegas, Mauricio, 2021. "Pricing the exotic: Path-dependent American options with stochastic barriers," Latin American Journal of Central Banking (previously Monetaria), Elsevier, vol. 2(1).

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