IMF should draft rules on foreign exchange intervention, says BoI's Fischer

IMF headquarters in Washington DC

The International Monetary Fund should develop international rules on intervention in foreign exchange markets, according to Stanley Fischer, governor of the Bank of Israel.

Speaking at the 11th annual Herzliya Conference in Israel on February 8, Fischer said that, in contrast to commodities trading, where rules are clearer, there are "no rules and norms that would impose limits on individual countries' intervention in foreign-currency markets".

"It is important for the IMF to develop a new

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