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In a hard peg exchange rate policy, the government chooses an exchange rate. A central bank can intervene in exchange markets in two ways. It can raise or lower interest rates to make the currency stronger or weaker. It also can directly purchase or sell its currency in foreign exchange markets.

Ingly, a rise in the exchange rate indicates real appreciation of the domestic currency. As producers anticipate a lower cost of imported intermediate goods, in the face of currency appreciation, they increase the output supplied.

On the other hand, people demand more money since they now have to spend more due to the higher prices. The increase in demand for money causes interest rates to rise. The increase in prices causes exports to fall. This results in a fall in the exchange rate.

valued currency makes a country's imports less expensive and its exports more expensive in foreign markets. A lowervalued currency makes a country's imports more expensive and its exports less expensive in foreign markets.

Supply and demand dictate foreign exchange rates. For example, greater demand for British goods would see an increase in the value (appreciation) of the Pound. Markets worried about the future of the Eurozone economies would tend to sell Euros leading to a depreciation of the Euro.

1% of the gross amount of currency exchanged, subject to minimum of INR 250/- i.e. minimum GST payable is INR 45. INR 5,500 + 0.1% of the gross amount of currency exchanged, subject to a maximum of INR 60,000/-, which caps GST payable at INR 10,800/-.

The sentiments of the investors, lower inflation rates, political stability, nations' current accounts, recession, government trade, terms of trade, speculation, etc., are the probable causes of currency appreciation.

Central banks manage currency by issuing new currency, setting interest rates, and managing foreign currency reserves. Monetary authorities also manage currencies on the open market to weaken or strengthen the exchange rate if the market price rises or falls too rapidly.

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