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Revised System For The Classification Of Exchange Rate Arrangements

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Executive Summary

Since 1998, the staff of the International Monetary Fund (IMF) has published a classification of countries' de facto exchange rate arrangements. Experience in operating this classification system has highlighted several challenges, notably: The residual category of managed floating has become overly heterogeneous; and intervention practices, which are used in characterizing arrangements, have become increasingly complex, while adequate data on intervention are sometimes not available. The existing IMF staff classification system has been modified to address these and other issues.

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