Central Bank Official Intervention in the Foreign Exchange Market: Lessons from Lebanon

Samih Antoine Azar
Full Professor of Business Administration & Economics, Faculty of Business Administration & Economics, Haigazian University, Lebanon.

Book Details

Author

Samih Antoine Azar

Pages

65

Publisher

Book Publisher International

Language

English

ISBN-13 (15)

978-93-90516-39-1 (Print)
978-93-90516-47-6 (eBook)

Published

Feb 17, 2021

About The Author / Editor

Dr. Samih Antoine Azar

Faculty of Business Administration & Economics, Haigazian University, Lebanon.

As I mentioned in my previous booklet, it is ludicrous to think that Lebanon can provide lessons in International Money & Finance to the world. My purpose is not to lecture others about what should be done but to focus the attention of economists, and policy makers, on a unique experience. A fundamental concern is the performance of an economy under pegged foreign exchange rates. Such an adjustable peg makes out of Lebanon an unusual harbor in the management of foreign exchange rates. It is by now clear to most observers that fixed exchange rates do not prevent or hamper the conduct of an independent monetary policy. In addition to providing continuous liquidity the monetary authorities have succeeded in selectively impacting the path of foreign exchange. From there is the stress of the booklet on official intervention. The booklet is not intended for the general public. It can be used as an aid to graduate courses on international money. It might be especially helpful in graduate schools with an applied approach to economics. And perhaps policy makers and central bankers might be interested.

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