Floating Exchange Rate

A floating (flexible) exchange rate is the biggest category and the most likely type of exchange rate that one will encounter when traveling. A flexible exchange rate rises or declines daily, based on a variety of economic factors and market forces. It’s neither pegged nor controlled by central banks.

In the modern world, most of the currencies are floating. Among them are: the United States dollar, euro, the Swiss franc, the Indian rupee, the British pound, the Japanese yen, and the Australian dollar.

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2020-08-13 • Updated

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