Lessons from Haiti’s Recent Exchange Rate Developments

Lessons from Haiti’s Recent Exchange Rate Developments
Author :
Publisher : International Monetary Fund
Total Pages : 45
Release :
ISBN-10 : 9798400226038
ISBN-13 :
Rating : 4/5 ( Downloads)

Book Synopsis Lessons from Haiti’s Recent Exchange Rate Developments by : Ms. Rina Bhattacharya

Download or read book Lessons from Haiti’s Recent Exchange Rate Developments written by Ms. Rina Bhattacharya and published by International Monetary Fund. This book was released on 2022-11-11 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: From August to October 2020, the Haitian authorities were successful at bringing about a sharp appreciation in the gourde/U.S. dollar exchange rate. This paper analyzes the factors behind this appreciation and its spillovers on the economy. It finds that foreign exchange surrender requirements had a statistically significant effect on the nominal exchange rate, while foreign exchange intervention by the central bank did not. Surrender requirements were also found to have raised trading costs and volatility in the foreign exchange market and contributed to the development of a wider parallel nominal exchange rate premium. This appreciation contributed to a decline in headline inflation during the episode while delivering some fuel subsidy-related savings to the government. Remittance-dependent households and exporters saw a drop in their purchasing power, and Haiti’s net external buffers were adversely affected. Following from these findings, the paper offers recommendations on ways to facilitate foreign exchange management and boost external sustainability while contributing to the central bank’s overall policy objectives.


Lessons from Haiti’s Recent Exchange Rate Developments Related Books

Lessons from Haiti’s Recent Exchange Rate Developments
Language: en
Pages: 45
Authors: Ms. Rina Bhattacharya
Categories: Business & Economics
Type: BOOK - Published: 2022-11-11 - Publisher: International Monetary Fund

DOWNLOAD EBOOK

From August to October 2020, the Haitian authorities were successful at bringing about a sharp appreciation in the gourde/U.S. dollar exchange rate. This paper
International Monetary Cooperation
Language: en
Pages: 456
Authors: C. Fred Bergsten
Categories: Political Science
Type: BOOK - Published: 2016-04-07 - Publisher: Peterson Institute for International Economics

DOWNLOAD EBOOK

In September 1985, emissaries of the world's five leading industrial nations—the United States, Britain, France, Germany, and Japan—secretly gathered at the
Annual Report on Exchange Arrangements and Exchange Restrictions 2013
Language: en
Pages: 105
Authors: International Monetary Fund. Monetary and Capital Markets Department
Categories: Business & Economics
Type: BOOK - Published: 2013-12-15 - Publisher: International Monetary Fund

DOWNLOAD EBOOK

This is the 64th issue of the AREAER. It provides a description of the foreign exchange arrangements, exchange and trade systems, and capital controls of all IM
China’s Evolving Exchange Rate Regime
Language: en
Pages: 31
Authors: Mr.Sonali Das
Categories: Business & Economics
Type: BOOK - Published: 2019-03-07 - Publisher: International Monetary Fund

DOWNLOAD EBOOK

China’s exchange rate regime has undergone gradual reform since the move away from a fixed exchange rate in 2005. The renminbi has become more flexible over t
Exchange Rate Volatility and Trade Flows--Some New Evidence
Language: en
Pages: 132
Authors: International Monetary Fund
Categories: Business & Economics
Type: BOOK - Published: 2004-05-19 - Publisher: International Monetary Fund

DOWNLOAD EBOOK

NULL