Give meanings of Fixed, Flexible and Managed Floating exchange rates.
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A fixed exchange rate is when a country ties the value of its currency to some other widely-used commodity or currency.
A flexible exchange-rate system is a monetary system that allows the exchange rate to be determined by supply and demand.
Managed float regime is the current international financial environment in which exchange rates fluctuate from day to day, but central banks attempt to influence their countries' exchange rates by buying and selling currencies to maintain a certain range.
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