Dirty float

Dirty float
A system of floating exchange rates in which the government occasionally intervenes to change the direction of the value of the country's currency. The New York Times Financial Glossary

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   A system where no official parities for currencies are declared or maintained. The central bank or national monetary authority does not publish details of a fixed target, e.g. four francs to the dollar. Instead it intervenes in foreign exchange markets to achieve an undisclosed target exchange rate. The target may be changed according to circumstances. Also known as a managed float.

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dirty float UK US noun [C] ECONOMICS, FINANCE
► a situation in which the value of a country's currency is allowed to change in relation to others, but is controlled by the government's central bank to keep it within a particular range: »

In our current international financial arrangement, called a dirty float, exchange rates fluctuate from day to day, but central banks attempt to influence their countries' exchange rates by buying and selling currencies.


Financial and business terms. 2012.

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