| 单词 | pure floating exchange rate |
| 释义 | pure floating exchange rate A floating exchange rate which is set by the market without any intervention by central banks or governments. A pure or ‘clean’ float is contrasted with a managed or ‘dirty’ float in which there is some official intra-marginal intervention (in foreign exchange markets). Under pure floating the exchange rate is whatever private speculators believe it should be. There is thus a risk of extreme fluctuations in exchange rates, and for this reason very few countries allow a completely clean float for their currencies. Most countries attempt some degree of official intervention intended to stabilize the foreign exchange markets. |
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