UIP is one of the cornerstones of international finance, constituting an important building block of most important exchange rate determination theories such as the monetary exchange rate model.

联合国际影片公司是一 国际金融的基石，构成了一个重要的 最重要的组成部分汇率决定 理论，如货币汇率模型。

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Europe started a long process towards monetary union, via an exchange-rate mechanism, which resulted in a single and free floating currency 30 years later.

欧洲开始了通过一项汇率机制迈向货币统一的漫长过程，30年后，它们拥有了一种自由浮动的单一货币。

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Because the single currency deprived members of monetary and exchange-rate flexibility, they were likely to need more, not less, fiscal flexibility.

因为单一货币夺走了成员国的本国货币和汇率弹性空间。而他们需要的是提高弹性空间，而不是减少。

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But this is merely to say that they have no coherent exchange-rate policy: monetary policy and exchange-rate policy (aside from occasional meddling) are operationally indivisible.

ECONOMIST: Off target

Mr. Abe has made it clear that Japan will pursue an aggressive policy of monetary expansion regardless of the monetary and exchange rate policies pursued in other countries.

FORBES: Move up http://i.forbesimg.com t Move down

Officials at the G20 meeting this weekend agreed on the need to strengthen the effectiveness and coherence of bilateral and multilateral IMF surveillance, particularly on financial sector coverage, fiscal, monetary and exchange rate policies.

FORBES: IMF Closer to Regulating Global Financial Markets