floating exchange rate

1. An exchange rate that is determined by market conditions rather than being officially set. (Compare fixed exchange rate.)

Example Sentences

At the alternative rate used for foreign transactions, the peso measured 1,490.50 to the dollar -- just shy of the outer limit of a floating exchange rate band set by the government amid high currency volatility.

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By mid-session, it was trading at 1,485 to the dollar -- just three cents shy of the outer limit of the floating exchange rate band announced by the government.

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On Sunday, Economy Minister Luis Caputo ruled out immediate plans to dollarize the economy or alter the floating exchange rate band, amid speculation of post-election changes.

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Last December, the government secured a second IMF deal on the promise of implementing economic reforms, including a floating exchange rate.

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At a press conference Friday, central bank deputy director Alexei Zabotkin said the bank is adhering to a floating exchange rate because “it allows the economy to effectively adapt to changing external conditions.”

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