题目内容
Fixed exchange rates are likely to be changed at some point over time.
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Government can change domestic interest rates to influence short-term capital flows and thereby defend a fixed exchange rate.
If a country's currency is a reserve currency, then intervention in the foreign exchange market to maintain a pegged exchange rate is unnecessary.
The current world exchange rate system is usually described as an adjustable peg system.
With respect to exchange rates, the 1997 Asian currency crisis caused the Thai, Malaysian, Indonesian, and Korean governments to give up their pegged or heavily managed exchange rates and move to floating exchange rates.
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