Research Discussion Paper – RDP 2004-06 Profitability of Reserve Bank Foreign Exchange Operations: Twenty Years After the Float

Contents

• Introduction
• Why the Reserve Bank Intervenes
• How the Reserve Bank Intervenes
• Intervention Since the Float
• Profits from Intervention
• Conclusion
• Appendix A: Effectiveness of Australian Intervention – A Survey
• References

We gratefully acknowledge the research assistance provided by Daniel Fabbro and Rebecca Edwards. The views expressed in this paper are those of the authors and do not necessarily reflect those of the Reserve Bank of Australia.