A country wanted to hold its currency against an important reference currency without a formal pegged rate. This is known as

Name: A country wanted to hold its currency against an important reference currency without a formal pegged rate. This is known as
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Question

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Countries, while not adopting a formal pegged rate, try to hold the value of their currency within some range against an important reference currency such as the U.S. dollar, or a "basket" of currencies. This is often referred to as a dirty float.

A Country Wanted to Hold Its Currency Against an Important