Fixed exchange rates are often maintained by using all of the following tools except

Question

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Open speculation by individual traders in foreign currency markets cannot be used to maintain fixed exchange rates, as such speculation could disrupt the exchange rate and cause it to fluctuate. The other options listed (international monetary reserves, import/export controls, and domestic macroeconomic adjustments) are commonly used tools to maintain fixed exchange rates.

Fixed Exchange Rates Are Often Maintained by Using All of the Following