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Exchange Rate Bands
(redirected from Exchange Rate Band)

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Exchange Rate Bands
The range of exchange rates a central bank allows its currency to take. Exchange rate bands are used when one currency links its value to that of another currency but allows it to fluctuate within certain limits. Proponents maintain that exchange rate bands give a currency a certain level of flexibility so that it can respond to market factors while leaving control with the central bank. Critics contend that this system is inefficient and leads to unfair practices in international trade. The Chinese renmimbi is a prominent example of a currency that traditionally has existed within exchange rate bands. See also: Crawling peg.
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Singapore's monetary policy is conducted via the local currency, which is traded against a basket of currencies of its major trading partners within an undisclosed exchange rate band.
Singapore tightens monetary policy by AFP / AFP Asian Edition
A desire to maintain an exchange rate band, as in Hungary, or not completely abandoning the targeting of monetary aggregates, as in Armenia, or both in the case of Romania, has slowed the public's understanding of the policy and perhaps limited the public's belief in the bank's commitment to price stability.
Inflation targeting in emerging economies: prerequisites, policies ... by Kemme, David M. / Comparative Economic Studies
Moreover, exchange rate bands are fragile and difficult to manage.
Inside the impossible triangle: monetary policy autonomy in a ... by Jansen, W. Jos / Contemporary Economic Policy
 
 
 
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