Brazil's Central Bank (BCB) has sold over US$ 12.75 billion to keep the US dollar from skyrocketing. Finance Minister Fernando Haddad said that the exchange rate was “floating” but would ...

This was down from 6.5 per US dollar at the start of the year, under the floating exchange rate system. Shops began to quote prices in US dollars and refused to accept Hong Kong dollar notes.

The PBOC operates under a managed floating exchange rate system, which allows the yuan's value to fluctuate within a 2% band around a central reference rate, or midpoint. This method is designed to ...