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A floating currency is a currency that uses a floating exchange rate as its exchange rate regime. A floating currency is contrasted with a fixed currency.
In the modern world, the majority of the world's currencies are officially but not really floating[citation needed], including the most widely traded currencies: the United States dollar, the Japanese yen, the euro, the British pound and the Australian dollar. The Canadian dollar most closely resembles the ideal floating currency[citation needed], as that their central bank has not interfered with its price since it officially stopped doing so in 1998. The United States is a close second with very little changes in its foreign reserves; by contrast, Japan and the UK continually interfere with the prices of their respective currencies[citation needed]. From 1946 to the early 1970s, the Bretton Woods system made fixed currencies the norm; however, in 1971, the United States government abandoned the gold standard, so that the US dollar was no longer a fixed currency, and most of the world's currencies followed suit.
A floating currency is one where targets other than the exchange rate itself are used to administer monetary policy. See open market operations.
The People's Republic of China recently unpegged their currency, which was formerly pegged to the US dollar, and allowed it to float within a carefully managed range of values relative to the dollar and other currencies.
See also
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(AFX UK Focus) 2009-01-06 14:26 UPDATE 2-Poland should avoid euro vote, intervention-cbankers (Interactive Investor)By Gabriela Baczynska
UPDATE 2-Poland should avoid euro vote, intervention-cbankers (The Forex Market)WARSAW, Jan 6 (Reuters) - Poland should avoid a referendum on adopting the euro, a central banker said on Tuesday, as the zloty gained back ground against the single currency and another official played down the chances of market intervention.
Deepak Lal: Global Financial Crisis II - Is Protection Next? (Business Standard India)Invoking the 'scarce currency' clause would allow the US to legitimately discriminate against Chinese imports. In my column a year ago (December, 2007) I concluded that the credit crunch was unlikely to lead to another Great Depression.
Breakingviews.com : An accelerating decline in the ruble (International Herald Tribune)The Bank of Russia used up a lot of currency reserves trying to defend the ruble. It could have saved the money by allowing a sharp, one-time devaluation when oil prices went into a tailspin.
Rouble in trouble (Daily Telegraph)As it devalues the rouble the Bank of Russia is trying to prevent a soft landing from becoming a sudden fall.
SNAP ANALYSIS-No end in sight for Ukraine currency slump (The Forex Market)KIEV, Dec 17 (Reuters) - Ukraine's hryvnia sank to a fresh record low to the dollar on Wednesday and markets give it little chance of a recovery soon as central bank reserves are limited by IMF conditions and its gas debts boost dollar demand.
Slovaks to duck under euro shield, peers exposed (The Forex Market)BRATISLAVA, Dec 12 (Reuters) - Slovakia will leap-frog its bigger east European peers by adopting the euro on Jan. 1, hoping this will shield it from the global crisis just as it dawns on its neighbours that staying out has left them exposed.
Sri Lanka Allows Rupee Drop to Boost Exports, Central Bank Says (Bloomberg)Dec. 11 (Bloomberg) -- Sri Lanka is allowing the rupee to decline at a faster pace, responding to exporters’ demand for a weaker currency to help weather the global economic slump, the central bank said.
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Floating currency - Wikipedia, the free encyclopediaA floating currency is a currency that uses a floating exchange rate as its exchange rate regime. A floating currency is contrasted with a fixed currency.
Floating exchange rate - Wikipedia, the free encyclopediaA 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.
The Times - Floating currency GENEVA - Two men dressed as bankers swim with mock giant bank notes during the 71st "Coupe de Noel" Christmas cup. Picture: AFP PHOTO
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The Chicago Blog: Milton Friedman, 1912-2006The Chicago Blog Publicity news from the University of Chicago Press including news tips, press releases, reviews, and intelligent commentary.
Financial Dictionary – Meaning for Floating currencyp> See also: float. ... The category contains the following sections:
Bloomberg.com: CanadaDuguay Says Floating Currency Serving Canada Well (Update1) ... By Alexandre Deslongchamps and Theophilos Argitis. Nov. 10 (Bloomberg) -- Bank of ...
Floating currency: Information from Answers.comFloating currency This article does not cite any references or sources . Please help improve this article by adding citations to reliable sources
Iceland: Victimized by its Tiny Currency - Finance Blog - Felix Salmon ... And the main reason is its insistence on having an independent, free-floating currency. Iceland is the smallest economy in the world to have a floating currency.
english.peopledaily.com.cnLast updated at: (Beijing Time) Tuesday, September 09, 2003: RMB Should Not Be Lumped Together with US General Election : US general election can't be linked ...
