Skip to main menuSkip to main content

IMF DATA

SIGN IN
Help

Working Paper Foreign Exchange Intervention (WPFXI) A Dataset of Public Data and Proxies

API

Latest Updates

DocumentRelease
DOCUMENT RELEASE

Foreign Exchange Intervention: A Dataset of Public Data and Proxies

A better understanding of foreign exchange intervention (FXI) is often hindered by the lack of data. This paper provides a new dataset of FXI covering a large number of countries since 2000 at monthly and quarterly frequencies. It includes published official data for about 40 countries as well as carefully constructed estimates for 122 countries. Estimates account for a wide range of central bank operations, including both spot and derivative transactions. These estimates improve upon traditional proxies based on changes in reserves, by adjusting for valuation changes, income flows, and changes in other foreign-currency balance sheet positions (both vis-à-vis residents and non-residents)—the first estimates to do the latter to our knowledge—thus providing a more accurate measure of operations that change the central bank’s foreign currency position. The dataset also provides a classification of FXI operations into sterilized or not sterilized, a key dimension for economic analysis. Finally, the paper discusses the merits of the new estimates relative to traditional proxies, and presents stylized facts. The dataset is updated regularly.

DocumentRelease
DOCUMENT RELEASE

Featured Charts

Resources

Footer Seal
AboutResearchCountriesCapacity DevelopmentNewsEvents
VideosDataPublicationsSocial Media HubAnnual ReportCopyright and Usage
Privacy NoticeContact UsCareersGlossaryScam AlertIMF Brand
عربي中文FRANÇAIS日本語РусскийEspañol
© 2026 INTERNATIONAL MONETARY FUND. ALL RIGHTS RESERVED.