文档介绍：International Corporate Finance
11th Edition
by Jeff Madura
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Part 2 Exchange Rate Behavior
2 © 2012 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as
permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.
6 Government Influence on Exchange Rates
Chapter Objectives
Describe the exchange rate system used by various
governments
Describe the development and implications of a single
European currency
Explain how governments can use direct intervention to
influence exchange rates
Explain how government intervention in the foreign
exchange market can affect economic conditions
3 © 2012 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as
permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.
Exchange Rate Systems
Exchange rate systems can be classified
according to the degree of government control
and fall into the following categories:
Fixed
Freely floating
Managed float
Pegged
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