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Exchange rates regimes: IMF (Hard pegs (Exchange arrangement with no …
Exchange rates regimes: IMF
Hard pegs
Exchange
arrangement with no
separate legal tender
Soft pegs
Conventional pegged
arrangement
Floating regimes
Floating
Residual
Other managed
arrangement
Classification system
The monetary policy frameworks
Inflation-targeting framework
Monetary policy decisions are often guided by the
deviation of forecasts of future inflation from the announced inflation
target, with the inflation forecast acting (implicitly or explicitly) as the
intermediate target of monetary policy.
Monetary aggregate target
to achieve a target growth
rate for a monetary aggregate
Stabilized
arrangement
Bangladesh
Bolivia
Burundi
Democratic
Rep. of the
Congo
Nigeria
Suriname
Yemen
Crawl-like
arrangement
Ethiopia
Uzbekistan
Other
managed
arrangement
Algeria
Belarus
China
The Gambia
Guinea
Myanmar
Rwanda
Tajikistan
Floating
Afghanistan
Madagascar
Malawi
Mozambique
Seychelles
Sierra Leone
Tanzania
Other
The country has no explicitly stated nominal anchor, but rather monitors
various indicators in conducting monetary policy.
Exchange rate anchor
The exchange
rate thus serves as the nominal anchor or intermediate target of monetary
policy.
Exchange rate
arrangement
(number of
countries)
No separate
legal tender
U.S. dollar
Ecuador
El Salvador
Marshall
Islands
Micronesia
Palau
Panama
TimorLeste
Zimbabwe
Euro
Kosovo
Montenegro
San Marino
Other
Kiribati
Nauru
Tuvalu
Currency
board
Euro
Bosnia and
Herzegovina
Bulgaria
Other
Brunei
Darussalam
U.S. dollar
Djibouti
Hong Kong
SAR
ECCU
Antigua and
Barbuda
Dominica
Grenada
St. Kitts and
Nevis
St. Lucia
St. Vincent
and the
Grenadines
Conventional
peg
U.S. dollar
Aruba
The
Bahamas
Bahrain
Barbados
Belize
Curaçao
and Sint
Maarten
Eritrea
Iraq
Jordan
Oman
Qatar
Saudi Arabia
Turkmenistan
United Arab
Emirates
Venezuela
Euro
Cabo Verde
Comoros
Denmark3
São Tomé and
Príncipe
WAEMU
Benin
Burkina Faso
Côte d’Ivoire
Guinea Bissau
Mali
Niger
Senegal
Togo
CEMAC
Cameroon
Central
African
Rep.
Chad
Rep. of
Congo
Equatorial
Guinea
Gabon
Composite
Fiji
Kuwait
Morocco
Libya
Other
Bhutan
Lesotho
Namibia
Nepal
Swaziland
Stabilized
arrangement
Euro
FYR
Macedonia
Composite
Singapore
Vietnam
U..S. Dollar
Guyana
Lebanon
Maldives
Trinidad and
Tobago
Crawling peg
U.S. dollar
Honduras
Nicaragua
Composite
Botswana
Crawl-like
arrangement
Euro
Croatia
Composite
Iran
Other
managed
arrangement
Composite
Syria
U.S. Dollar
Cambodia
Liberia