The current exchange rate system in Canada is best described as a

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Canada currently operates under a floating exchange rate system, in which the value of the Canadian dollar is determined by market forces of supply and demand in foreign exchange markets. This means that the exchange rate fluctuates daily based on various economic factors such as inflation, interest rates, and government policies. This system differs from a fixed exchange rate system, where the value of a country's currency is pegged to another currency or a commodity like gold, or a gold standard system where the value of a currency is directly tied to a fixed amount of gold.

The Current Exchange Rate System in Canada Is Best Described