exchange rate. In addition, Brazil suffered from an electric power
shortage because of the severe drought in 2001. Due to that Brazil even conducted the electric
power allocation system.
2-3. Foreign affairs
Argentina, a major economic partner of Brazil, met the worst social and economic crisis on
December 20 2001, since the Great Depression. Thr
foreignexchange market is one of the largest markets in the world. By some estimates, about 3.2 trillion US dollar worth of currency changes hands every day.
2. Kind of Exchange rate regime
2. 1. The exchange rate policy is divided into the fixed exchange rate system, a floating exchange rate system and the limited floating exchange rate system depending on flexibility and a functional pat
DEFINITION
A system that is in a middle of fixed and flexible. It limited the range of exchange rate fluctuation about certain currency within certain range(1~2.25%).
The fixed exchange rate system ( 1945. 10 ~ 1964. 5 )
The unitary fluctuation foreignexchange system ( 1964. 5 ~ 1980. 2 )
The multicurrency basket system ( 1980. 2 ~ 1990. 2 )
Average exchange rate system ( 1990. 3 ~
exchange rate system under planned economy system.(1949~1980)
Second, China adopted a exchange rate system. that applied the different exchange rate in trade transactions and non-trade transactions.(1981~1984) The trade transactions was applied a fixed exchange rate for 2.3 yuan per the dollar. Direct investment of the foreigner was applied the fixed exchange rate of 1.5 yuan per the dollar.
Ⅰ. 국제금융시장
국제금융시장은 관점에 따라 다양하게 분류 정의될 수 있다.
첫째, 국제금융거래에 참여하는 당사자들의 거주지 국적에 따라 외국시장(foreign financial markets)과 역외시장(offshore financial markets)으로 구분할 수 있다. 외국시장은 거래당사자 중 거래지와 국적이 다른 일방이 참여하는 경