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Exchange Rate Policy

The way a country's central bank or government manages the value of its currency in relation to other currencies.

International Monetary Fund (IMF)

An organization of 190 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.

Special Drawing Rights (SDRs)

An international reserve asset created by the IMF, whose value is based on a basket of five major currencies: the U.S. dollar, the euro, the Chinese renminbi, the Japanese yen, and the British pound.

Article IV Consultations

Regular discussions between the IMF and member countries, usually once a year, to review their economic and financial policies and assess their exchange rate regimes.

Foreign Exchange Market Intervention

Actions taken by a central bank or government to influence the value of its currency in the foreign exchange market, typically by buying or selling large amounts of foreign currency.

Quota and Voting Shares (at the IMF)

A country's financial contribution to the IMF (quota) largely determines its voting power and access to IMF financing.