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Lecture International finance: An analytical approach (3/e): Chapter 5 - Imad A. Moosa

Chapter 5 - The international monetary system and exchange rate arrangements. In this chapter, the learning objectives are: To classify international monetary systems, to outline the history of exchange rate arrangements, to outline the pros and cons of fixed and flexible exchange rates, to examine the Australian exchange rate arrangements. | Chapter 5 The International Monetary System and Exchange Rate Arrangements Objectives To classify international monetary systems To outline the history of exchange rate arrangements To outline the pros and cons of fixed and flexible exchange rates To examine the Australian exchange rate arrangements 5- Copyright 2010 McGraw-Hill Australia Pty Ltd PPTs t/a International Finance: An Analytical Approach 3e by Imad A. Moosa Slides prepared by Afaf Moosa Definition The IMS is the framework of rules, regulations and conventions that govern the financial relations among countries 5- Copyright 2010 McGraw-Hill Australia Pty Ltd PPTs t/a International Finance: An Analytical Approach 3e by Imad A. Moosa Slides prepared by Afaf Moosa Components of the IMS A public component consisting of a series of agreements A private component represented by the banking and finance industry 5- Copyright 2010 McGraw-Hill Australia Pty Ltd PPTs t/a International Finance: An Analytical Approach 3e by Imad A. Moosa Slides prepared by Afaf Moosa Classification according to reserve assets Pure commodity standards (e.g. the gold standard) Pure fiat standards Mixed standards (e.g. the Bretton Woods system) 5- Copyright 2010 McGraw-Hill Australia Pty Ltd PPTs t/a International Finance: An Analytical Approach 3e by Imad A. Moosa Slides prepared by Afaf Moosa Classification according to flexibility of exchange rates Several systems may arise by restricting, or otherwise, the exchange rate 5- Copyright 2010 McGraw-Hill Australia Pty Ltd PPTs t/a International Finance: An Analytical Approach 3e by Imad A. Moosa Slides prepared by Afaf Moosa Fixed exchange rates The exchange rate is fixed by the central bank and is not allowed to move The FX market is likely to be out of equilibrium 5- Copyright 2010 McGraw-Hill Australia Pty Ltd PPTs t/a International Finance: An Analytical Approach 3e by Imad A. Moosa Slides prepared by Afaf Moosa Perfectly flexible . | Chapter 5 The International Monetary System and Exchange Rate Arrangements Objectives To classify international monetary systems To outline the history of exchange rate arrangements To outline the pros and cons of fixed and flexible exchange rates To examine the Australian exchange rate arrangements 5- Copyright 2010 McGraw-Hill Australia Pty Ltd PPTs t/a International Finance: An Analytical Approach 3e by Imad A. Moosa Slides prepared by Afaf Moosa Definition The IMS is the framework of rules, regulations and conventions that govern the financial relations among countries 5- Copyright 2010 McGraw-Hill Australia Pty Ltd PPTs t/a International Finance: An Analytical Approach 3e by Imad A. Moosa Slides prepared by Afaf Moosa Components of the IMS A public component consisting of a series of agreements A private component represented by the banking and finance industry 5- Copyright 2010 McGraw-Hill Australia Pty Ltd PPTs t/a International Finance: An Analytical .