Under the system known as the "dirty" float, official boundaries for the exchange rate exist, but they are wider than they are under a fixed exchange rate system.

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In a "dirty" float system (also known as a managed float), a country's currency exchange rate is allowed to fluctuate in response to the foreign-exchange market, but the central bank can intervene to stabilize or influence the currency's value. There are no official boundaries for the exchange rate like in a fixed or pegged exchange rate system.

Under the System Known as the "Dirty" Float, Official Boundaries