Meaning of “dirty float” in the English Dictionary

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"dirty float" in Business English

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dirty floatnoun [ C ]


a situation in which the value of a country's currency is allowed to change in relation to others, but is controlled by the government's central bank to keep it within a particular range:

In our current international financial arrangement, called a dirty float, exchange rates fluctuate from day to day, but central banks attempt to influence their countries' exchange rates by buying and selling currencies.

(Definition of “dirty float” from the Cambridge Business English Dictionary © Cambridge University Press)