Page 209 - DECO503_INTERNATIONAL_TRADE_AND_FINANCE_HINDI

bdkbZ—18% fLFkj ,oa vfLFkj fofue; nj osQ xq.k ,oa nks"k

(2) LorU=k vk£Fkd uhfr lEHkoμfLFkj fofue; njksa osQ vUrxZr] ,d ns'k ,d cM+h lhek rd fons'kksa ij uksV
fuHkZj gks tkrk gS ,oa ns'k osQ fy, LorU=k vk£Fkd uhfr ugha viuk ikrkA fdUrq ifjorZu'khy fofue;
njksa esa og vius ns'k osQ fy, Lora=k vk£Fkd uhfr viuk ldrk gS ,oa vius ns'k dh izfr"Bk cuk;s
j[k ldrk gSA
(3) vfèkewY;u ;k voewY;u lEHkoμns'k esa vk£Fkd mPpkopu osQ iQyLo:i dHkh&dHkh ,slh ifjfLFkfr;ka
vkrh gSa fd ns'k dh eqnzk dk voewY;u (Devaluation) vFkok vfèkewY;u (Over-Valuation) djuk
iM+rk gSA tc ljdkj }kjk tkucw>dj fons'kh eqnzk dh rqyuk esa] ns'k dh eqnzk dk ewY; ?kVk fn;k tkrk
gS rks bls voewY;u dgrs gSa vkSj blosQ foijhr tc fons'kh eqnzk dh rqyuk esa ns'k dh eqnzk dk ewY; c<+k
fn;k tkrk gS rks bls vfèkewY;u dgrs gSaA ykspiw.kZ fofue; njksa esa voewY;u rFkk vfèkewY;u ,d
vYidkyhu ,oa LokHkkfod izfØ;k gksrh gSA okLro esa] eqnzk dh fofue; nj esa deh ;k o`f¼ mls Bhd
Lrj ij ykus dh izfØ;k ek=k gksrh gSA
(4) vk£Fkd fLFkfr dk lwpdμykspiw.kZ fofue; njsa] ns'k dh okLrfod vk£Fkd izxfr dh lwpd gksrh gSaA
;fn vk£Fkd fLFkfr esa fLFkjrk jgrh gS rks fofue;&nj esa fLFkjrk cuh jgrh gS vkSj ;fn vk£Fkd fLFkfr
vfLFkj jgrh gS rks fofue; nj esa Hkh vfLFkjrk vk tkrh gSA bl izdkj ns'k dh fofue;&nj vk£Fkd fLFkfr
dh lwpd gSA vr% ykspiw.kZ fofue; nj dh ;g fo'ks"krk gksrh gS fd og ?kwe&fiQjdj lkE; fcUnq ij vk
tkrh gSA

(5) Hkqxrku lUrqyu esa lqèkkjμHkqxrku&'ks"k (Balance of Payment) esa lUrqyu LFkkfir djuk fofue; nj
dk dk;Z gS rFkk fofue; nj esa mlh le; okaNuh; ifjorZu fd;s tk ldrs gSa tcfd fofue; njsa ykspiw.kZ
gksaA vr% Hkqxrku 'ks"k esa lUrqyu rHkh LFkkfir fd;k tk ldrk gS tc fons'kh fofue; nj esa
vko';drkuqlkj ifjorZu gksrs jgsaA

fuf'pr fofue; nj iz.kkyh lc ifjfLFkfr;ksa esa ,oa lc ns'kksa osQ fy, mi;qDr ugha gSA

vfLFkj fofue; njksa osQ nks"k (Demerits of Flexible Exchange Rate)
(1) lkèkuksa dh cckZnhμfofue; njksa esa ckj&ckj ifjorZu gksus ls fu;kZr vkSj vk;kr&izfr;ksxh m|ksxksa esa
rqyukRed :i ls gksus okys ykHk esa ifjorZu gksrk jgrk gS ftlls bu m|ksxksa esa lalkèkuksa dk gLrkUrj.k
gksrk jgrk gS vkSj lalkèkuksa dh cckZnh gksrh gSA fLFkj fofue; njksa osQ vUrxZr Hkqxrku lUrqyu esa gksus okys
vYi ifjorZuksa dks ekSfnzd fjtoZ esa ifjorZu djosQ Bhd fd;k tk ldrk gS rFkk mudh ykxr vfèkd ugha
gksrhA bl izdkj fofue; njksa esa gksus okys ckj&ckj osQ ifjorZuksa ls cpk tk ldrk gSA
(2) Hkqxrku&'ks"k esa lUrqyu osQ fy, vuwowQy ughaμHkqxrku&'ks"k esa lUrqyu cuk;s j[kus osQ fy,]
ykspiw.kZ fofue; njksa ij fuHkZj ugha jgk tk ldrkA ;fn fofue; nj esa ,d fn'kk esa ifjorZu gksrk gS
rks ;g vuqeku yxk fy;k tkrk gS fd mlh fn'kk esa vkxs Hkh ifjorZu gksxkA blls lV~Vs dh fØ;kvksa
dks izksRlkgu feyrk gS ftlls Hkqxrku 'ks"k esa lUrqyu rks nwj] mYVs vlUrqyu iSnk gks tkrk gS rFkk
leL;k vkSj my> tkrh gSA
(3) O;kikj 'krks± ij izfrowQy izHkkoμykspiw.kZ fofue; njksa osQ vUrxZr cgqr ns'k O;kikj vkSj fofue;
fu;U=k.k osQ ekè;e ls viuh fofue; nj dks ml fcUnq ls Å¡pk j[kus dk iz;Ru djrs gSa tks LorU=k cktkj
esa izpfyr gksrhA bldk mu ns'kksa dh O;kikj dh 'krks± ij izfrowQy izHkko iM+rk gS] D;ksafd fu;kZr grksRlkfgr
gksrs gSaA vr% ykspiw.kZ fofue; njksa ls tks ykHk gksrk gS] mldh rqyuk esa izfrowQy O;kikj dh 'krks± ls gkfu
vfèkd gksrh gSA

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