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| Tekijä: | Hooyman, C. |
| Otsikko: | The use of foreign exchange swaps by central banks |
| Lehti: | Staff Papers
1994 : MAR, VOL. 41:1, p. 149-162 |
| Asiasana: | CENTRAL BANKS FOREIGN EXCHANGE SWAPS |
| Kieli: | eng |
| Tiivistelmä: | The paper discusses the use of foreign exchange swaps by central banks. Such use has aimed at affecting domestic liquidity, managing foreign exchange reserves, and stimulating domestic financial markets. The discussion is illustrated using selected countries. The paper cautions about the use of foreign exchange swaps to defend a particular exchange rate at a time when foreign exchange reserves are under pressure. It notes, finally, that use of foreign exchange swaps by central banks has been losing importance. |
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