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2007 | nr 1 | 40--55
Tytuł artykułu

Interwencje walutowe na rynkach terminowych. Metody i przegląd wybranych doświadczeń

Warianty tytułu
Foreign Exchange Interventions in Derivatives Markets. Methods and Review of Selected Experiences
Języki publikacji
PL
Abstrakty
Interwencje walutowe są ważnym instrumentem polityki pieniężnej wykorzystywanym przez banki centralne wielu krajów. Celem artykułu jest przedstawienie możliwości wykorzystania walutowych instrumentów pochodnych jako narzędzia interwencji, na podstawie literatury i wybranych doświadczeń różnych krajów. Omówiono transakcje forward i swap oraz opcje walutowe.
EN
Foreign exchange interventions are commonly used by monetary authorities in many countries. The traditional and the most popular market for conducting such operations is the spot market. A rapid growth of derivatives markets in recent years raises a question whether such instruments can also be used as an intervention tool. The article shows how foreign exchange derivatives can be used in this manner and presents selected experiences from other countries'. The conclusion is that under some circumstances using derivatives can be more effective than intervening in the spot market, yet they need to be used with caution due to the large risk involved.(original abstract)
Czasopismo
Rocznik
Numer
Strony
40--55
Opis fizyczny
Twórcy
Bibliografia
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Typ dokumentu
Bibliografia
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Identyfikator YADDA
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