When a currency is allowed to float between upper and lower rates but not allowed to move outside this band, it is called

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An exchange rate band is a system where a currency's value is allowed to fluctuate within a fixed upper and lower limit, but not beyond them. This system combines elements of a fixed exchange rate and a floating exchange rate, aiming to provide stability while allowing some flexibility in response to market conditions.

When a Currency Is Allowed to Float Between Upper and Lower