Freedom of Free Floating Exchange Rate: Empirical Analysis of Currency Fluctuation Patterns

M. Anaam Hashmi

Chapter 3 in The Changing Environment of International Financial Markets, 1994, pp 35-43 from Palgrave Macmillan

Abstract: Abstract For more than twenty years, a free floating exchange rate had been advocated by central banks and academicians alike. It was believed that market forces should play a major role in exchange rate determination. Between 1970 and 1973, leading currencies were allowed to fluctuate and an exchange rate which might be described as 'flexible', was established. This study has attempted to look back on sixteen years (1973–89) over which flexible rates have been the norm.

Date: 1994
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DOI: 10.1007/978-1-349-23161-4_3

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