Australia currently uses which of the following exchange rate systems?
A) A fixed exchange rate system
B) The Bretton Woods System
C) A managed float system
D) A gold standard system

Question

Quizplus · Accepted Answer

Australia currently uses a managed float exchange rate system, also known as a flexible exchange rate system, where the exchange rate is determined by the market forces of supply and demand for currency. This means that the exchange rate can fluctuate daily based on various economic factors such as inflation, interest rates, and trade. Australia abandoned its fixed exchange rate system in the 1980s and has not adopted the gold standard system or the Bretton Woods system.

Australia Currently Uses Which of the Following Exchange Rate Systems