Following the recent Executive Board decisions on the determination of the renminbi (RMB) as a freely usable currency, effective October 1, 2016, and its inclusion in the SDR basket on the same date, STA intends to separately identify the RMB in the survey on Currency Composition of Official...

This paper proposes modifications to the method of collecting exchange rates for the calculation of the value of the SDR for the purposes of Rule O-2(a). The value of the SDR in terms of the U.S. dollar is determined daily as the sum of the equivalents in U. S. dollar values of the amounts of...

The paper finds that simple econometric specifications yield surprising rich and complex dynamics -- relative prices respond to the nominal exchange rate and pass-through effects, import and export volumes respond to relative price changes, and the trade balance responds to changes in import and...

Review the quality of the Fund staff's analysis and policy advice on exchange rate issues. The Fund is sometimes criticized for not taking a sufficiently clear position on several exchange rate issues, ranging from the assessment of the level of exchange rates to the description of exchange rate...