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Currency amounts are used to determine the daily value of the SDR. Currency amounts are the number of units of each currency in the SDR basket. The value of the SDR (in U.S. dollars) is the sum of these amounts, valued at daily exchange rates of the currencies against the U.S. dollar. These...
Persistent link: https://www.econbiz.de/10014408723
The paper explores the pros and cons of maintaining the current 'freely usable currency' criterion, and clarifies indicators for assessing it. The freely usable concept and its two key elements-currencies should be "widely used" and "widely traded"-are set out in the Articles and serve important...
Persistent link: https://www.econbiz.de/10014410363
Persistent link: https://www.econbiz.de/10000671075
The three-month Eurepo interest rate, the euro component of the SDR interest rate basket, will be discontinued as of … representative interest rate instrument of the euro area in the SDR interest rate basket since 2006. However, faced with a … secondary market yield curve covering euro area government bonds rated either investment grade or AA and above. In staff's view …
Persistent link: https://www.econbiz.de/10014410559
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...
Persistent link: https://www.econbiz.de/10014410096
This paper describes the result and the methodology of updating nominal and real effective exchange rate weights on the basis of trade data over 1999-2001. The underlying framework is an updated version of the IMF''s current effective exchange rate calculation, which uses weights largely based...
Persistent link: https://www.econbiz.de/10014400539
This paper examines the relationship between monetary and exchange rate policies by considering the factors that have led the authorities in developed and developing countries in Asia to alter their use of monetary policy instruments and exchange rate arrangements since the mid-1970s. There is...
Persistent link: https://www.econbiz.de/10014396158
increase in protectionist pressures, and the disappointing performance of world trade, renewed concern has been expressed about …
Persistent link: https://www.econbiz.de/10014406218
This paper reviews developments and issues in the exchange arrangements and currency convertibility of IMF members. Against the backdrop of continuing financial globalization and a series of emerging market crises since 1997, there have been important changes in the evolution of exchange rate...
Persistent link: https://www.econbiz.de/10014404579
This book examines the challenges facing the international monetary and financial system, as well as the future role of the Bretton Woods institutions in addressing those challenges. The volume is based on the proceedings of a 2004 conference cosponsored by the Banco de Espana and the...
Persistent link: https://www.econbiz.de/10014395118