1 The International Legal Environment of Exchange Rates


The Articles of Agreement (Articles) of the International Monetary Fund (IMF) and the practices of the IMF under that treaty are the principal sources of public international law on the exchange rates of the currencies of member states (members) of the IMF. By the end of September 1990, there were 154 members, among which a great variety of political and economic systems were represented. The most notable nonmembers were the Union of Soviet Socialist Republics and Switzerland, but the latter country and a number of other countries have applied for membership.

Author: Mr. Joseph Gold