## Central Bank Foreign Exchange Operations

## Source details

**Canonical URL:** [Central Bank Foreign Exchange Operations](https://www.imf.org/en/capacity-development/training/icdtc/schedule/sa/2026/fposa26-05)

## Other formats

- [Markdown version](/en/capacity-development/training/icdtc/schedule/sa/2026/fposa26-05/index.md)
- [Structured JSON version](/en/capacity-development/training/icdtc/schedule/sa/2026/fposa26-05/index.json)
- [Bundle manifest](/en/capacity-development/training/icdtc/schedule/sa/2026/fposa26-05/bundle-manifest.json)

## Bibliographic details
- Session: SA 26.05
- Location: New Delhi, India
- Dates: April 27-30, 2026 (1 week)
- Delivery method: In-person Training
- Primary language: English
- Status: Deadline passed

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### Event details and logistics
- Session No.: SA 26.05
- Location: New Delhi, India
- Date: April 27-30, 2026 (1 week)
- Delivery Method: In-person Training
- Primary Language: English
- Status: Deadline passed
- Target Audience:
  - Central bank officials involved in FX operations and FX market development
- Qualifications:
  - Participants should possess a background in economics or finance, relevant work experience in central banking, and a basic understanding of FX operations and market dynamics.

### Course scope and major themes
- Central Bank FX operations and Reference Exchange Rate methodology
- Principles and strategies for conducting FX interventions
- Case studies from central banks operating under various FX regimes
- Implications of new Multi-Currency Practice (MCP) policies on FX operations and reference exchange rates
- Challenges in communicating FX policies and operations across different FX regimes
- FX market development components:
  - Introduction of the FX global code
  - Electronic trading platforms
  - FX derivatives

### Pedagogy and learning format
- Blend of lectures and discussions
- Substantial time allocated for individual central bank case studies
- Emphasis on peer-to-peer learning due to diverse FX regimes among participating central banks
- Concluding panel discussion where experts summarize key insights and explore opportunities for implementing best practices in FX operations

### Course objectives (explicit)
- Enhance understanding of FX operations among central bank officials.
- Discuss the methodology for calculation reference exchange rates.
- Analyze case studies from central banks in different FX regimes.
- Address challenges in communicating FX policies and operations.
- Explore the implications of new Multi-Currency Practice (MCP) policies.
- Discuss the role of central banks for improving FX market functioning.
- Facilitate knowledge sharing through country case studies and professional discussions.

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## References

- [In-person Training](https://www.imf.org/en/capacity-development/training/icdtc/delivery-methods)
- [Confronting Macro-Critical Corruption (CMCC)](https://www.imf.org/en/capacity-development/training/icdtc/schedule/ce/2026/cmccce26-39)
- [Diversification and Industrial Policy for Sustainable Growth](https://www.imf.org/en/capacity-development/training/icdtc/schedule/ce/2026/wspce26-36)
- [Central Bank Digital Currencies: Principles and Policy Considerations (CBDC)](https://www.imf.org/en/capacity-development/training/icdtc/schedule/at/2026/cbdcat26-19)
- [VITARA - Compliance Risk Management (VITARA-CRM)](https://www.imf.org/en/capacity-development/training/icdtc/schedule/ol/2026/vitara-crmol26-234)
- [Introduction to Financial Programming and Policies (FPP.0 X)](https://www.imf.org/en/capacity-development/training/icdtc/schedule/ol/2026/fpp-0xol26-239)

_Source: https://www.imf.org/en/capacity-development/training/icdtc/schedule/sa/2026/fposa26-05_