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Fixed Exchange Rates Beginning of Paper In a regime of , how might a Central Bank operate its monetary policy and its policy for intervention in foreign exchange markets? Why does it need foreign exchange reserves? The last 20 years have seen an increased international interdependence due to the reduction in the controls .... Middle of Paper .... rate. In a fixed exchange rate regime, national governments agree to maintain the convertibility of their currency at a fixed exchange rate. A currency is convertible if the government acting through the central bank, agrees to buy or sell as much of the currency people wish to trade at the fixed exchange rate. Most central banks act as the government's banker, the Banks' bank, lender of last resort and issuer of notes as well as supervising the banking system and operating monetary policy. Monetary policy refers to the attempts .... 1526 words | 6 pages Subscription Length Price Join 30 days membership (recurring) $19.95 90 days membership (recurring) $39.95 180 days membership (non-recurring) $69.95