The "'currency band "'is a system of exchange rates by which a floating currency is backed by hard money.
22.
Thus, the exchange rate regimes of floating currencies may more technically be known as a "'managed float " '.
23.
Floating currencies, it was promised, would make for stable currencies, with the market controlling exchange rates through constant small adjustments.
24.
But many Argentines worry that a free-floating currency, backed by little more than promises of state support, will quickly depreciate.
25.
Apart from keeping inflation low, central bankers acknowledge there is little they can do to impose stability on floating currencies.
26.
He acknowledged that " interim steps " must be taken before China's financial system can fully cope with a floating currency.
27.
Since the peso is a free-floating currency it is often subject to speculation by investors in Latin American markets, particularly Brazil.
28.
Those polices include a freely floating currency and a constitutional prohibition on the use of central bank financing to cover budget deficits.
29.
But it has since been blamed for helping to make Argentina's economy less competitive than neighboring Brazil's, which has a floating currency.
30.
Turning back the clock to the 1970s would be almost impossible now, given Mexico's free trade agreements, foreign investment and free-floating currency.
