United States Official Operations in the Foreign Exchange and Gold Markets

abroad action activity amount arrangements asset assistance balance of payments Bank of England basis cable commercial bank contracts countries credits decisions defense demand Deutsche Marks developments discussions effect eign eral Reserve European evaluation exchange mar exchange rate Exchange Stabilization Fund Federal Reserve Bank Federal Reserve System flow foreign central banks foreign currencies Foreign Department foreign ex foreign exchange markets foreign exchange operations forward market French franc Fund's German marks gold market important International Monetary Fund investment involved Italian limited lira market operations meet ment million money market nations official intervention official operations participate percent President pressure purchases rency responsibility Secretary Section sell short-term sources speculation spot rate sterling swap line Swiss francs tion transactions Treasury bills Treasury's U.S. balance U.S. dollars U.S. Government securities U.S. Treasury undertaken York Fed York Federal Reserve