The Use of Foreign Exchange Swaps by Central Banks; A Survey
The paper discussed the use of foreign exchange swaps by central banks. Such use has aimed at affecting domestic liquidity, managing foreign exchange reserves, and stimulating domestic financial markets. It discusses these different uses and present evidence for a selected group of countries. The paper cautions about the use of foreign exchange swaps to defend a particular exchange rate at a time when foreign exchange reserves are under pressure. It notes, finally, that use of foreign exchange swaps by central banks has been losing importance.
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| Length: | 30 |
| Date of creation: | 01 Aug 1993 |
| Handle: | RePEc:imf:imfwpa:93/64 |
| Contact details of provider: | Postal: International Monetary Fund, Washington, DC USA Phone: (202) 623-7000 Fax: (202) 623-4661 Web page: http://www.imf.org/external/pubind.htm Email: More information through EDIRC
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| Order Information: | Web: http://www.imf.org/external/pubs/pubs/ord_info.htm |
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