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Financial Sector Policies

Virtual : Monetary Policy Implementation Course - Reference Exchange Rate

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Session No.: SA 22.47V

Location: New Delhi, India

Date: October 18-20, 2022 (1 week)

Primary Language: English

    Target Audience

    Central bank officials from CDOT and SARTTAC member countries. Selected central banks from the APD region by invitation.

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    Qualifications

    The participants are expected to be involved in monetary and FX policy/or monetary and FX operations. The participants are expected to work in either a monetary and FX policy, and/or a monetary and FX operations departments. No other pre-requisites are imposed

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    Course Description

    This course is a continuation of the joint SARTTAC-CDOT course on monetary policy implementation. Earlier segments included: i) interest rate corridor (August 2021); ii) central bank daily liquidity management (October 2021); iii) collateral framework for central bank liquidity-providing operations (January 2022); iv) Emergency Liquidity Assistance/Lender of last resort (April 2022); and v) Reserve Requirements (July 2022). This course will continue under a virtual format. Central banks usually publish reference (or official) exchange rates on their websites used for accounting, government operations or other purposes. Most central banks calculate these exchange rates based on market transactions. This course will discuss main principles and country experiences about reference exchange rate determinations mechanism. On day 1, presentation aim to provide a general guidance on reference exchange rate determination mechanism. On day 2 and 3, invited central banks will present a case study to share their experiences and challenges. There will be ample room for Q&A.

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    Course Objectives

    Upon completion of this course, participants should be able to:

    • Improve understanding of reference exchange rate determinations mechanism.
    • Exchange of experiences with central banks from the region.
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