Issues of Openness and Flexibility for Foreign Exchange Systems

International Monetary Fund

No 1989/003, IMF Working Papers from International Monetary Fund

Abstract: This paper surveys briefly the main issues for official management of foreign exchange, including the choice of exchange rate regime and exchange and trade restrictive systems. It concludes by identifying the main forms of arrangements that have demonstrated their merits and practicability for developing countries in recent years, including auction and interbank exchange markets, market-based forward exchange rates, import license auctions, open general import licensing, and liberalized capital controls.

Keywords: WP; exchange rate; market; developing country; single currency; exchange rate regime; free market; auction market; resource allocation; market pressure; interbank exchange market; consumer goods; using auction; exchange reform; market system; nominal exchange rate; overvalued exchange rate; Exchange rates; Exchange rate arrangements; Currencies; Imports; Middle East; East Africa; Central Africa; Global (search for similar items in EconPapers)
Pages: 36
Date: 1989-01-01
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