چکیده:
The exchange rate is recognized as one of the main variables in the economies of less developed countries,which is a key relative price in the economy and its changes are affected not only trade flows and balance of payments,but also the structure and The level of production,consumption, employment and resource allocation.Overthe past four decades, the Iranian economy has experienced four currency crises,the last of which was the currency crisis in 2018.Examining the causes and factors of the currency crisis shows that domestic factors such as macroeconomic policies,the economic structure of the country and the degree of independence of the central bank, as well as external factors such as the international economic environment and various sanctions and threats can lead to currency crises.The present study,with the pathology of foreign exchange market management mechanisms,the role of the centralbank in dealing with foreign exchange crises hasbeen discussed.In this research,by using55research sources by interviewing the country's foreign exchange experts and studying books,articles,reports related to the harms to foreign exchange market management mechanisms was extracted,coded and have been classified to5themes and analyzed using the content analysis method.This research shows;problems and damages caused by the structure of the foreign exchange market,lack or weakness of some essential active strategies in foreign exchange market management,lack of some tools or weaknesses in the tools used in the Iranian foreign exchange system and lack of the independence and passivity of foreign exchange policymakers towards dynamic foreign exchange management have led to the inefficiency of foreign exchange market management policies.
خلاصه ماشینی:
1% to prior to the crisis | creating challenges in the balance of payments, causing severe capital outflow in November and December 1997 - Extensive financial liberalization and increase in - Increasing the ceiling of total foreign ownership South Korea number of banks | accepted shares in the stock market from 26% to 55% and complete removal of this ceiling at the end of (1997) - Rapid increase in lending by banks with lenient rules and assessment in year 1998 inadequate risk | - Accelerating the exit of bankrupt banks from banking system - Restructuring troubled banks and strengthening reserve regulations - Higher domestic inflation compared to - Refinancing short-term debts, external inflation along with a pegged exchange rate valued in dollars Mexico caused the strengthening of the nominal value of the national currency - Negotiating with the International Monetary Fund and the government (1982) - High borrowing from US financial markets to formulate a support package worth international | 51 billion dollars - Increased reliance of banks on - Adopting contractionary monetary policy to curb 90 Year 11 ♦ Issue 4 ♦ Serial 43 ♦ Winter 2022 Foreign Exchange Crisis | Factors Creating Crisis | Solution Short-term financial provisioning such as certificates | inflationary pressures and reducing exchange rate fluctuations | non-resident deposits | foreign exchange - Simultaneous increase in bond yields - Increasing the value-added tax rate from 10 percent to 15 percent from the US Treasury under political tightening in Mexico Reviewing the experiences of other countries in managing foreign exchange crises shows that most of them have used contractionary monetary policy, increasing taxes, and providing operational programs to organize the financial system and the banking network.
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