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RBA Glossary definition for exchange rates

exchange rates – The price of one currency expressed in terms of another currency. Any exchange rate can be quoted two ways, e.g. Australian dollars per US dollar (USD/AUD) or US dollars per Australian dollar (AUD/USD). The convention for the Australian dollar is that it is quoted as the foreign currency price of the Australian dollar. This is sometimes referred to as the 'Indirect' method of quoting.

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Capital Flows and Exchange Rate Determination

1 Dec 1989 RDP 8908
Ian Macfarlane and W.J. Tease
Research Discussion Papers contain the results of economic research within the Reserve Bank
https://www.rba.gov.au/publications/rdp/1989/8908.html

Exchange Rate Determinants

1 Dec 1989 RDP 8908
Ian Macfarlane and W.J. Tease
The more interesting link for our purposes is the shorter-run relationship between interest rates and the exchange rate. ... One explanation for this result lies in the two-way relationship between interest rates and the exchange rate.
https://www.rba.gov.au/publications/rdp/1989/8908/exchange-rate-determinants.html

Appendix

1 Dec 1989 RDP 8908
Ian Macfarlane and W.J. Tease
Weekly or monthly changes in domestic interest rates are not significantly related to weekly or monthly changes in the exchange rate. ... rates and the exchange rate. This was not the case in the monthly equations.
https://www.rba.gov.au/publications/rdp/1989/8908/appendix.html

Capital Flows and Exchange Rate Determination

1 Dec 1989 RDP 8908
Ian Macfarlane and W.J. Tease
Research Discussion Papers contain the results of economic research within the Reserve Bank
https://www.rba.gov.au/publications/rdp/1989/8908/

Introduction

1 Dec 1989 RDP 8908
Ian Macfarlane and W.J. Tease
Download the Paper 1.12. MB. The aim of this paper is to look at the effects of increased capital mobility on exchange rate determination. ... It attempts to analyse the extent to which movements in the exchange rate can be explained by broad economic
https://www.rba.gov.au/publications/rdp/1989/8908/introduction.html

References

1 Dec 1989 RDP 8908
Ian Macfarlane and W.J. Tease
COE, D.T. and GOLUB, S.T. (1986), “Exchange Rates and Real Long-Term Interest Rate Differentials: Evidence for Eighteen OECD Countries”, OECD Working Paper, February. ... CUMBY, R.E. and OBSTFELD, M. (1984), “International Interest Rate and Price
https://www.rba.gov.au/publications/rdp/1989/8908/references.html

Capital Movements

1 Dec 1989 RDP 8908
Ian Macfarlane and W.J. Tease
Over this period, the exchange rate regime changed a number of times, but all the variants could be classified as fixed or quasi-fixed. ... However, in periods when interest rates rose in response to the falling exchange rate (see Section III), new
https://www.rba.gov.au/publications/rdp/1989/8908/capital-movements.html

Monetary Management in the Post-Float Period

1 Dec 1989 RDP 8908
Ian Macfarlane and W.J. Tease
Figure 3. INTEREST RATES & THE EXCHANGE RATE. in the first half of 1985, when the Australian dollar fell sharply, monetary policy was tightened. ... Thus, from late 1987 to early 1989, rises in interest rates tended to be accompanied by rises in the
https://www.rba.gov.au/publications/rdp/1989/8908/monetary-management-in-the-post-float-period.html

Implications for Monetary Policy

1 Dec 1989 RDP 8908
Ian Macfarlane and W.J. Tease
RDP 8908: Capital Flows and Exchange Rate Determination V. Implications for Monetary Policy. ... Download the Paper 1.12. MB. If we accept the common-sense proposition that the exchange rate is sensitive to domestic and foreign interest rates, and put
https://www.rba.gov.au/publications/rdp/1989/8908/implications-for-monetary-policy.html