Training Program

Central bank officials from CDOT and SARTTAC member countries. Selected central banks from the APD region by invitation.

The participants are expected to be involved in monetary and FX policy/or monetary and FX operations.

The participants are expected to work in either a monetary and FX policy, and/or a monetary and FX operations departments. No other pre-requisites are imposed.

This 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); and vi) Reference Exchange Rate (October 2022). This course will continue under a virtual format.

Central banks use Foreign Exchange Operations for different objectives depending to their main goals. Some central banks use rule-based and some discretionary FX operations. Its transparency also differs by country. This course will discuss main principles and country experiences about FX operations. On day 1, Asad Qureshi will present a general guidance on Foreign Exchange Operations. On day 2 and 3, invited central banks will present a case study to share their experiences and challenges. There will be ample room for Q&A.