01926cas a2200265 a 4500 AALejournalIMF002588 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451857115 1018-5941 BD-DhAAL BD-DhAAL Canales Kriljenko, Jorge. Official Intervention in the Foreign Exchange Market : Elements of Best Practice / Jorge Canales Kriljenko, Cem Karacadag, Roberto Guimaraes. Washington, D.C. : International Monetary Fund, 2003. 1 online resource (41 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper offers guidance on the operational aspects of official intervention in the foreign exchange market, particularly in developing countries with flexible exchange rate regimes. A brief survey of the literature and country experience is followed by an analysis of the objectives, timing, amount, degree of transparency, and choice of markets and counterparties in conducting intervention. The analysis highlights the difficulty of detecting exchange rate misalignments and disorderly markets, and argues in favor of parsimony in official intervention. Determining the timing and amount of intervention is a highly subjective excercise, and some degree of discretion is almost necessary, though policy rules may serve as "rules of thumb.". Mode of access: Internet Guimaraes, Roberto. Karacadag, Cem. IMF Working Papers; Working Paper ; No. 2003/152 Full text available on IMF http://elibrary.imf.org/view/journals/001/2003/152/001.2003.issue-152-en.xml IMF e-Library