But because countries no longer are obligated to peg their exchange rates in a system overseen by the IMF, they need a sound basis for selecting the regime best suited to their needs—be it fixed, ...

The value of the Hong Kong dollar, on the other hand, is pegged at a fixed exchange rate to the U.S. dollar. The following are some of the main factors that can affect various currencies ...

Second, it classifies exchange rate regimes in more detail than the traditional dichotomy between fixed and floating exchange rates. Third, it distinguishes between the central banks' declared ...