Valutaárfolyamstabilitás

Valutaárfolyamstabilitás refers to the state where the exchange rate of a country's currency remains relatively stable against other currencies or a basket of currencies. This stability is a key objective for many central banks and governments, as it can have significant implications for economic policy and performance.

A stable exchange rate fosters predictability in international trade and investment. Exporters and importers can plan with greater certainty about their costs and revenues when the value of their currency is not subject to wild fluctuations. This predictability can encourage foreign direct investment and boost overall economic growth.

Conversely, high exchange rate volatility can create uncertainty and deter investment. It can also lead to inflationary pressures if a country's currency depreciates sharply, making imports more expensive. On the other hand, a persistently appreciating currency can harm export competitiveness.

Central banks employ various tools to maintain exchange rate stability, including monetary policy interventions such as adjusting interest rates, foreign exchange market interventions (buying or selling their own currency), and capital controls. The chosen strategy often depends on the specific economic context and the prevailing exchange rate regime, whether it is fixed, floating, or managed. Achieving and maintaining valutaárfolyamstabilitás is a complex balancing act, often involving trade-offs with other economic objectives like inflation control or economic growth.