Third, while interventions are with the objective of containing volatility in the forex market, intervention over a long period, especially when the exchange rate is moving in one direction, could make interventions less effective. However, a critical question is what would be the impact on expectations about future movements in forex markets if no intervention takes place.
To o the graduands  For today’s graduands, this ceremony is the culmination of systematic application to structured learning. Each one of you, no doubt, has had high moments and has suffered, at least occasionally, despair: – moments of absolute clarity and commitment to what you are doing interspersed, perhaps, with moments of confusion.