Managed float

Floating rate may also refer to a floating interest rate applied to a loan or other lending product. A floating exchange rate or a flexible exchange rate is a type of exchange rate regime wherein a currency's value is allowed to fluctuate according to the foreign exchange market. A currency that uses a floating exchange rate is known as a floating currency. The opposite of a floating exchange rate is a fixed exchange rate.
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Also known as "dirty" float, this is a system of floating exchange rates with central bank intervention to reduce currency fluctuations.