本研究利用公開的新聞資料做分析，探討近兩任央行總裁許遠東先生以及彭淮南先生在干預外匯市場的行為上有何不同，將干預新聞資料設虛擬變數利用最小平方法做迴歸分析。迴歸結果發現，彭淮南先生在外匯市場的干預是有即時的效果且對匯市的反應較為迅速。而許遠東先生在外匯市場的干預則是有遞延的效果，干預行為也相較溫和。 / This paper analyzes public news to examine different behaviors between Hsu Yuan-Tung and Peng Huai-Nan when they intervened in foreign exchange markets. The paper uses intervention news as dummy variables and then performs regression analysis by Ordinal Least Squares. Empirical results show that the intervention behavior of Mr. Peng is instant effect and the reaction to foreign exchange markets is quick. However, it is deferred and moderate for Mr. Hsu.