Journal Article

A hitchhiker's guide to understanding exchange rates


Abstract: A nontechnical guide to exchange rates that discusses the role of inflation and monetary policy in determining exchange rate movements, uses balance-of-payments concepts to illustrate the economic role of the real exchange rate, and examines the crucial role of expectations.

Keywords: Foreign exchange rates;

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File(s): File format is text/html https://doi.org/10.26509/frbc-ec-19980101
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Bibliographic Information

Provider: Federal Reserve Bank of Cleveland

Part of Series: Economic Commentary

Publication Date: 1998

Issue: Jan

Order Number: 1