Exchange rate policy

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Foreign exchange policy - one of the tools of the state economic policy related to the shaping of the exchange rate and the conditions of the foreign exchange market for the achievement of the objectives set. The exchange rate policies used depend on the currency system of a given area and, consequently, the rules of exchange and exchangeability of currencies. The exchange rate policy is implemented in the international monetary system.

Thanks to the tool, which is the exchange rate, the state can influence its foreign trade and internal demand.

Exchange rate policy instruments

Exchange rate policy instruments can be divided into market and administrative sectors.

Market instruments include central bank interventions on the foreign exchange market, including direct sale or purchase of foreign currencies on the market and foreign exchange swaps.

Administration tools in the field of exchange rate policy include the modification of the national currency parity against other currencies and currency restrictions. The modification of parity may include devaluation, revaluation or modification of the range of permissible exchange rate fluctuations around the parity. The currency restrictions include: determining the amount of export revenues, determining the amount of expenditure on imports, limiting foreign investment in the country and domestic investments abroad,

The basic types of exchange rate regimes include:

In Poland, pursuant to Article 24 of the Act of 29 August 1997 on the National Bank of Poland: Bibliography

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