From Fixed To Float Operational Aspects Of Moving Toward Exchange Rate Flexibility
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From Fixed to Float-Operational Aspects of Moving Toward Exchange Rate Flexibility
Author: International Monetary Fund. Monetary and Financial Systems Dept.
language: en
Publisher: International Monetary Fund
Release Date: 2004-11-19
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China’s Evolving Exchange Rate Regime
Author: Mr.Sonali Das
language: en
Publisher: International Monetary Fund
Release Date: 2019-03-07
China’s exchange rate regime has undergone gradual reform since the move away from a fixed exchange rate in 2005. The renminbi has become more flexible over time but is still carefully managed, and depth and liquidity in the onshore FX market is relatively low compared to other countries with de jure floating currencies. Allowing a greater role for market forces within the existing regime, and greater two-way flexibility of the exchange rate, are important steps to build on the progress already made. This should be complemented by further steps to develop the FX market, improve FX risk management, and modernize the monetary policy framework.
From Fixed to Float
Author: Mrs.Gilda Fernandez
language: en
Publisher: International Monetary Fund
Release Date: 2004-07-01
This paper identifies the institutional and operational requisites for transitions to floating exchange rate regimes. In particular, it explores key issues underlying the transition, including developing a deep and liquid foreign exchange market, formulating intervention policies consistent with the new regime, establishing an alternative nominal anchor in the context of a new monetary policy framework, and building the capacity of market participants to manage exchange rate risks and of supervisory authorities to regulate and monitor them. It also assesses the factors that influence the pace of exit and the appropriate sequencing of exchange rate flexibility and capital account liberalization.