IMF Policy Discussion Papers

Transparency in Central Bank Operations in the Foreign Exchange Market

By Charles Enoch

March 1, 1998

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Charles Enoch. Transparency in Central Bank Operations in the Foreign Exchange Market, (USA: International Monetary Fund, 1998) accessed November 8, 2024

Summary

Transparency in the economic sphere involves making public sector action visible and understandable to the private sector. Transparency in central bank operations can be seen a complement to the greater transparency being established in policy formulation. Among the most important areas in this regard and the central bank’s operations in the foreign exchange market. This paper looks at the respective roles of overt and covert foreign exchange market operations, and considers that each may be appropriate under particular conditions. Reconciling covert operations with transparency requires rules for full disclosure with as short a lag as possible.

Subject: Banking, Central bank operations, Central banks, Currency markets, Financial markets, Foreign exchange, Foreign exchange intervention, International reserves

Keywords: A number of country, Authority, Central bank, Central bank intervention, Central bank operations, Country, Currency markets, Discretionary market intervention, East Asia, Exchange management purpose, Foreign exchange, Foreign exchange intervention, Foreign exchange market, Government transaction, International reserves, Management purpose, Market, Market counterparty, Market flow, Market fundamentals, Market intervention, Market participant, Market practice, PDP, Rate band regime, South Asia, Transparency

Publication Details

  • Pages:

    24

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Policy Discussion Paper No. 1998/002

  • Stock No:

    PPIEA0021998

  • ISBN:

    9781451974430

  • ISSN:

    1564-5193