Floating exchange rate

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In macroeconomics and economic policy, a floating exchange rate (also known as a fluctuating or flexible exchange rate) is a type of exchange rate regime in which a currency's value is allowed to fluctuate in response to international events affecting exchange rates.

Excerpt from the Wikipedia article “Floating exchange rate”, under the CC BY-SA 4.0 license. Read the article on Wikipedia

Image: NilsTycho, CC BY-SA 3.0, via Wikimedia Commons.