The exchange rates of major currencies haven’t always been so volatile. The Bretton Woods Agreement of 1944 ushered in a system of international exchange-rate fixity and stability.

However, the Bangladesh Bank did not elaborate on the system but said a stabilisation fund of $500 million was developed to be used in stabilising the exchange rate.

Pramol Dhawan, head of the EM team at the $2 trillion asset manager, said swings in currencies like the Mexican peso and Brazilian real have gotten so high that it’s become a hurdle to investing ...

The earlier exchange rate regime caused friction for foreign investors because of pricing ambiguity and difficulties in repatriating funds. Under the new system, exchange rates are set largely ...

A floating exchange rate system was adopted in 1973, and the IMF formally recognized floating rates in 1976, ending the Bretton Woods system.

The multiple-rate regime was seen by many analysts a failing of Emefiele’s leadership. Under this aegis, the central bank argued that it did not amount to “multiple” rates, but various windows for ...