Virtual : Monetary Policy Implementation Course - Reference Exchange Rate

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Canonical URL: Virtual : Monetary Policy Implementation Course - Reference Exchange Rate

Target Audience:
- Central bank officials from CDOT and SARTTAC member countries.
- Selected central banks from the APD region by invitation.
Qualifications:
- Participants are expected to be involved in monetary and FX policy and/or monetary and FX operations.
- Participants are expected to work in either a monetary and FX policy, and/or a monetary and FX operations department.
- No other pre-requisites are imposed.

The course is a continuation of the joint SARTTAC-CDOT course on monetary policy implementation.
Earlier segments included:
- i) interest rate corridor (August 2021);
- ii) central bank daily liquidity management (October 2021);
- iii) collateral framework for central bank liquidity-providing operations (January 2022);
- iv) Emergency Liquidity Assistance/Lender of last resort (April 2022);
- v) Reserve Requirements (July 2022).
Focus of this segment:
- Central banks usually publish reference (or official) exchange rates used for accounting, government operations or other purposes.
- Most central banks calculate these exchange rates based on market transactions.
- The course will discuss main principles and country experiences about reference exchange rate determination mechanisms.
Program structure:
- Day 1: Presentations aiming to provide general guidance on reference exchange rate determination mechanisms.
- Day 2 and Day 3: Invited central banks will present case studies to share their experiences and challenges.
- There will be ample room for Q&A.