변동환율 해석

변동환율은 한 국가나 지역에서 사용하는 화폐 환율 관리 제도로 그 중에서 다른 화폐에 비해 환율은 시장의 수요와 외환시장의 강약에 의해 결정되고 환율이 일정한 범위 내에서 자유롭게 변동하는 것을 허용한다.고정환율제도에 비해 변동환율제도에서 환율은 시장 수요와 수요의 변화에 따라 변동할 수 있고 서로 다른 경제 요소와 정책 영향을 반영할 수 있다.

변동환율은 국가가 통화환율의 변동범위를 조절하지 않고 외환시장의 수급상황에 따라 자유롭게 변동할 수 있도록 허용하는 것을 말한다.제1차세계대전 후 세계 주요국의 화폐는 금본위제에서 벗어나 단기 변동환율제도를 실시하였다.

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.

그러나 변동환율에도 일부 도전과 위험이 존재한다.이것환율 의 변동 은 투기 행위 와 시장 을 유발할 수 있다불안정은 기업과 경제에 악영향을 미칠 수 있다.안에 있어요또한 변동환율은 인플레이션의 불확실성을 초래할 수 있다.국제 무역과 투자.

한 마디로 하면 변동환율은 일종의 화폐 환율 관리이다시스템, 다른 통화에 대한 환율은시장 수요와 외환 시장의 힘.할 수 있어자동적으로 환율을 조정하여 경제 변화를 반영하다.환경, 하지만 몇 가지 도전과 위험에 직면해 있습니다.