The currency exchange rates that we see and use every day are nominal exchange rates. They tell us what we get if we swap a unit of one currency for another – for example, a pound-dollar exchange rate ...

Most countries hold large gross asset positions, lending in domestic currency and borrowing in foreign. Thus, their balance sheets are exposed to nominal exchange rates. We argue that when asset ...

Download PDF More Formats on IMF eLibrary Order a Print Copy Create Citation Based on VAR analyses across 26 countries, we show that, although foreign exchange intervention (FXI) is effective in ...

We study the endogenous choice to accept fiat objects as media of exchange and their implications for nominal exchange rate determination. We consider a two-country environment with two currencies ...

Exchange rate pass‐through refers to the extent to which fluctuations in the nominal exchange rate affect domestic prices—both at the producer and consumer levels. This dynamic plays a pivotal role in ...

The Monetary Authority of Singapore (MAS) will maintain the prevailing rate of appreciation of the Singapore dollar nominal ...