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Username: LuckyMan Rating:  Asked to: Apinya Kamon Date Created: 18 Jul 2017 |
| Category | 40 |
| Tag | Financial |
| Question | What is a 'Floating Exchange Rate'? |
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Hello LuckyMan, A floating exchange rate is a regime where the currency price is set by the forex market based on supply and demand compared with other currencies. This is in contrast to a fixed exchange rate, in which the government entirely or predominantly determines the rate. The currencies of most of the world's major economies were allowed to float freely following the collapse of the Bretton Woods system in 1971. |
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