But the fixed exchange rate system also undermined the United States capacity to manage its balance of payments. That is why, in 1971, President Richard Nixon unilaterally abandoned the dollar s convertibility to gold, leaving major currencies exchange rates to float against one another.

22. A common compromise is to allow flexibility within a band around a given exchange rate peg.

America s current exchange rate regime is one of floating rates or at least of rates that can float. Back in the 1950s and 1960s, economists like Milton Friedman assumed that a global regime of floating exchange rates would be one in which currency values moved slowly and gradually alongside differences in the economy s inflation and productivity growth rates.

The foreign exchange rate system was freely floating and the country benefited from stable real exchange rates, funded by fiscal and monetary policy and the size of the international reserves.

From the point of market performance, over the past year, the two way floating characteristics of RMB exchange rate is outstanding. The elasticity of exchange is expected to be strengthened and the exchange rate is expected to be generally stable.

The Hong Kong Monetary Authority bought Hong Kong dollars and sold Hong Kong dollars at the level of 7.85 according to the linked exchange rate system, in order to maintain the stability of the exchange rate of Hong Kong dollars.

Second, exchange rates need to reflect economic fundamentals. But while theory suggests that flexible exchange rates should blunt foreign monetary or financial shocks, in practice, such a currency regime rarely works on its own.

Since the setting of the November 1998 United Nations operational rates of exchange, the dollar has continued to fluctuate.

Answering this question requires, first and foremost, an understanding of the costs and benefits of various exchange rate systems. The International Monetary Fund was established 70 years ago to manage an adjustable peg system a hybrid system in which exchange rates were usually fixed to the US dollar, but could be adjusted occasionally to improve the country s competitive position in export markets.

For example, under the Plaza Accord, the US joined with Japan, Germany, and other G 7 countries in 1985 to intervene cooperatively to weaken the dollar. Indeed, a majority of countries pursue either fixed exchange rates, exchange rate targets, or managed floating, all of which by definition entail buying and selling foreign exchange to moderate or eliminate exchange rate fluctuations.

On the other hand, flexible exchange rates call for the development of forward markets or markets in futures securities that enable firms to reduce their exchange rate risks.14 In any event, the fact that forward and futures markets for the currencies of most developing countries are likely to be relatively thin reduces the attractiveness of freely floating exchange rates.

Indeed, exchange rate floating is making currency appreciation a recurring feature of some economies.

(b) Ensure that national exchange rates are consistent with market levels, and that exchange and capital control barriers do not encourage black market activities

The procedure has been developed to check automatically the significance of the revisions of exchange rates on a quarterly basis.

He provided further details of measures being taken to manage the 2005 Annual Programme Budget and the negative impact of exchange rate fluctuations with an unexpected appreciation of the US dollar, which had effectively reduced funds available in 2005 by 45 million.

In the face of large and growing external imbalances, the Central Bank of Egypt (CBE) chose to defend the Egyptian pound during last year s political and economic turmoil. The CBE allowed the exchange rate, which is formally defined as a managed float, to depreciate by only 3 .

In the 1930 s, the control of banks went hand in hand with the control of capital movements and in the end with the fixing of exchange rates. The alternative of continued capital movements, facilitated by major financial institutions, and flexible exchange rates was set out by a few economists, notably the Austrian Gottfried Haberler, but found no political resonance.

Conscious of the volatility of the currency exchange markets and the significant risk that unanticipated exchange rate changes have on operations, management will continue to assess and manage the risks posed by volatile currency fluctuations.

Conscious of the volatility of the currency exchange markets and the significant risk that unanticipated exchange rate changes have on operations, management will continue to assess and manage the risks posed by volatile currency fluctuations.

7 Note should be made of the currency fluctuations in the course of 2003 that may have played a role in the increase in terms of the United States dollar.

Some developing countries with restrictive regimes, such as China, India, South Africa and Turkey, have taken steps to liberalize and relax exchange controls that augur well for OFDI.

Even before the energy sector reforms, Mexico had been pursuing sound macroeconomic policies for a considerable period of time. As a result, the country has benefited from low inflation, small fiscal deficits, and manageable current account deficits.

The existing exchange rate arrangements in most ESCWA member countries incorporate negative aspects of the two extremes of exchange rate regimes.

The Aide Memoire on exchange rate fluctuations explained that while these fluctuations could cause significant disruption to UNHCR's financial position in the short term, their impact was generally neutralized' over time as the effects on income were offset by similar effects on expenditure.

Developed countries should assist the least developed countries in reforming the regulatory and institutional frameworks for promoting external trade, diversifying exports and improving the exchange rate regime.

Requests the Executive Director to continue to improve the financial management and control systems of UNOPS and the required reporting

A more sophisticated approach would be a combination of periodic changes in the central rate to compensate for differences in inflation with trading partners, combined with intermittent and irregular central bank intervention in the market to raise uncertainty about the size and direction of short term movements in the exchange rate (that is to say, vigorous dirty floating ).

RBM Results based management

Considering the amounts involved, the systems and procedures adopted in some operations to initiate, manage and control procurement activities were ineffective, and sometimes deficient.

RESTRICTIONS OR REGULATIONS, if any, applicable to alternate remittance systems generally, any group can be incorporated under the Companies Act 1995, a non profit company is usually limited by guarantee.

For calculating national incomes in United States dollars, conversion rates should be based on MERs, except where that would cause excessive fluctuations and distortions in the income of some Member States, in which case PAREs or other appropriate conversion rates should be employed.

The estimated decreased requirement of 33.9 million in respect of exchange rate fluctuations reflects the recent strengthening of the United States dollar after a period of weakening against a number of currencies.

After the collapse of the Bretton Woods exchange rate regime in the early 1970 s, it was widely supposed that a flexible currency system would bring more stability. But, whereas we only recently learned that financial behemoths create financial instability, foreign exchange markets for a long time were characterized by volatility and uncertainty.

Likewise, the proposition that rent controls reduce the supply of housing is violated under conditions of imperfect competition. And the proposition that floating exchange rates are an effective system relies on assumptions about the workings of the monetary and financial system that have proved problematic

An alternative is to allow some flexibility in the exchange rate so that smaller, daily changes prevent the build up of pressure for a large change.

Exchange rate fluctuation

If the NBU lets the exchange rate float, Ukrainians are likely to exchange billions of dollars into hryvnia, driving up the hryvnia exchange rate. That would contain Ukraine s inflation, as the NBU could restrict the money supply through high interest rates rather than rationing.

If the NBU lets the exchange rate float, Ukrainians are likely to exchange billions of dollars into hryvnia, driving up the hryvnia exchange rate. That would contain Ukraine s inflation, as the NBU could restrict the money supply through high interest rates rather than rationing.

(d) Conducting studies on member States' policies on growth, economic reforms, domestic resource mobilization, international financial flows, external debt and exchange rate management

The system to be extended to all field offices will include exchange rate verification.

Hong Kong has implemented the linked exchange rate system for the Hong Kong dollar's peg to the US dollar since 1983.

There are limits to outward investment, lack of insurance for outward investment, and exchange rate controls.

137. In the exchange of views on the management of the post adjustment system, members observed that the system dealt with place to place price relativities, local inflation rates and exchange rate movements that were continually changing over time and across some 200 duty stations.

There was no automated exchange rate control over transactions coming from field offices, which entails a risk of posting the wrong exchange rate.

Decreases in exchange rates reflect the strengthening of the United States dollar against the schilling.