2.1 Introduction2.2 The Gold Standard2.3 The Gold Exchange Standard2.4 The Bretton Woods System2.5 Post—Bretton Woods Systems2.6 Alternative Exchange Rate Regimes2.7 The IMF Classification of Exchange Rate Regimes2.8 Selection and Management of Exchange Rate Regimes2.9 Exchange Rate Policy and Monetary Policy2.10 The Par Rate of Exchange2.11 Emergence of the Euro2.12 Exchange Rate of the Indian Rupee2.13 Depreciation, Appreciation, Devaluation, and Revaluation2.14 Convertibility of Currency2.15 International Liquidity and International Reserves2.16 SterilizationSummaryQuestions and ProblemsFurther Reading