Penjelasan dari kursus pertukaran yang mengambang

Rata pertukaran yang mengambang adalah sistem manajemen kurse pertukaran yang diadopsi oleh sebuah negara atau daerah di mana kurse pertukaran relatif dengan valuta lainnya ditentukan oleh pasokan dan permintaan pasar dan kekuatan pasar pertukaran asing, memungkinkan kurse pertukaran untuk bergerak bebas dalam jangkauan tertentu. Dibandingkan dengan sistem kurse tukar fiks, di bawah kurse tukar yang mengambang, kurse tukar dapat bergerak dengan perubahan permintaan pasar dan pasokan, merefleksikan faktor ekonomi dan pengaruh kebijakan yang berbeda.

Rata pertukaran yang mengambang berarti bahwa negara tidak mengatur jangkauan fluktuasi dari kurse pertukaran mata uang tetapi memungkinkan untuk fluktuasi bebas menurut pasokan dan permintaan pasar pertukaran asing. Setelah Perang Dunia I, valuta negara-negara utama di dunia pecah dari sistem standar emas dan menerapkan resime tingkat Exchange yang mengambang jangka pendek.

After the collapse of the Bretton Woods system in 1973, countries around the world generally implemented floating exchange rates, which can be divided into free floating and managed floating.

Free floating is also called clean floating, which means that a government does not take any measures to prevent currency intervention and completely allows free floating.

Managed floating is also called dirty floating, that is, the Exchange rate regime in which the government intervenes under certain circumstances in order to keep its exchange rate relatively stable and avoid excessive fluctuations.

The floating exchange rates currently implemented by most countries are managed.

From the perspective of floating, the Floating exchange rate can be divided into three categories: single floating, joint floating, and pegging policy.

A single float refers to the situation where the domestic currency does not have a fixed price relationship with any foreign currency and floats separately according to supply and demand in the foreign exchange market, with the US dollar, Japanese yen, and other currencies floating separately.

Joint floating refers to the adoption of fixed exchange rates between currencies within a group of countries, setting the upper and lower limits for exchange rate fluctuations, and the obligation of the monetary authorities of each country to maintain a fixed exchange rate for currencies within the group while allowing other currencies outside of member countries to freely float.

The member states of the European Economic Community adopt the method of joint floating.

The implementation of peg policy refers to a floating Exchange rate regime that pegs a major currency, special drawing right, or European Currency Unit, fixes its exchange rate, and floats other currencies according to the fluctuation of major currencies.

At present, many developing countries have adopted a pegged policy. In addition, there is an Exchange rate regime adjusted according to a set of indicators.

Under the Floating exchange rate, market supply and demand determine the change of the exchange rate, which means that the exchange rate will fluctuate according to the transactions in the foreign exchange market and the investors' demand for money and the demand for hedging risks. If a country's economic growth is strong and capital inflows increase, it will lead to the appreciation of the country's currency. On the contrary, if a country's economy faces difficulties and Capital outflow increases, this will lead to the devaluation of the country's currency.

The advantage of the Floating exchange rate is that it can automatically adjust the exchange rate to respond to changes in the economic environment. It can help countries maintain competitiveness under external shocks and reduce dependence on foreign exchange reserves. In addition, the Floating exchange rate can also provide market signals, reflecting the health of the economy and market expectations.

Namun, kursus pertukaran mengambang juga memiliki beberapa tantangan dan risiko. Thevolatilitas kursus pertukaran dapat memicu perilaku spekulatif dan pasarketidakstabilan, yang dapat memiliki efek negatif pada perusahaan dan ekonomi. Dalamtambahan, kadar pertukaran mengambang mungkin menyebabkan ketidakpastian tentang inflasi,perdagangan internasional, dan investasi.

Dengan kata-kata, kurse pertukaran mengambang adalah manajemen kurse pertukaran mata uangsistem, dan kadar pertukarannya relatif dengan valuta lainnya ditentukan olehpasokan dan permintaan dan kekuatan pasar pertukaran asing. Bisa.secara otomatis menyesuaikan kursus pertukaran untuk merefleksikan perubahan dalam ekonomilingkungan, tetapi juga menghadapi beberapa tantangan dan risiko.