Växelkurshantering

Växelkurshantering refers to the strategies and policies employed by governments and central banks to influence or manage the exchange rate of their national currency against other currencies. This management can take various forms, ranging from minimal intervention to direct control. The primary goal of växelkurshantering is often to achieve economic stability, promote exports, control inflation, or attract foreign investment.

Different approaches exist for managing exchange rates. A freely floating exchange rate is determined solely by market forces of supply and demand, with no central bank intervention. In contrast, a fixed exchange rate involves a country pegging its currency to another currency or a basket of currencies, and the central bank actively intervenes in the foreign exchange market to maintain this peg. A managed float, or dirty float, lies between these two extremes, where the exchange rate is generally determined by market forces but the central bank intervenes periodically to smooth out excessive volatility or steer the rate in a desired direction.

The tools used in växelkurshantering include direct intervention in the foreign exchange market by buying or selling the domestic currency, adjustments to interest rates to influence capital flows, and the implementation of capital controls to limit the movement of money in and out of the country. The effectiveness and desirability of växelkurshantering are subjects of ongoing debate among economists, with potential benefits like reduced economic uncertainty balanced against risks such as currency manipulation accusations and potential distortions in market mechanisms.