Exchange rate policy

Japanese: 為替相場政策 - かわせそうばせいさく

In a broad sense, it can be interpreted as including general economic policies (such as monetary and fiscal policies) that affect exchange rates, but in a narrow sense, the term exchange rate policy is limited to cases where policymakers manipulate exchange rates themselves, and policies adopted with the aim of directly replacing them. The former includes the choice of exchange rate system (fixed or floating exchange rate system (fixed exchange rate system, floating exchange rate system), single, dual, or multiple exchange rate system, etc.) and parity changes and exchange rate stabilization operations under a given exchange rate system, while the latter can include exchange controls that directly control the supply and demand of foreign currency, and policies that attempt to adjust the supply and demand of foreign currency through indirect controls on financial aspects such as interest rates and reserve requirements.

Source: Heibonsha World Encyclopedia, 2nd Edition Information

Japanese:

広義には為替相場に影響を及ぼす一般的な経済政策(金融･財政政策等)を含むとも解されるが，狭義には為替相場そのものを政策主体が操作する場合と，直接それに代替することを目的として採られる政策とに限定して為替相場政策という。前者には，為替相場制の選択(固定･変動相場制(固定為替相場制，変動為替相場制)，単一･二重･複数相場制等)と，与えられた為替相場制のもとでの平価変更や為替安定化操作があり，後者には，外国為替の需給に直接統制を加える為替管理，および利子率や預金準備率等の金融面への間接的統制を通じて外国為替の需給を調節しようとする政策を含めることができる。

出典　株式会社平凡社世界大百科事典第２版について　情報

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