Please explain in simple language: i) Fixed exchange rate ii) Floating exchange rate. (P.S: not the definitions from the NCERT reader.)

Please explain in simple language: i) Fixed exchange rate ii) Floati

1.	Please explain in simple language: i) Fixed exchange rate ii) Floating exchange rate. (P.S: not the definitions from the NCERT reader.)
Answer» (1). A fixed exchange rate, sometimes called a pegged exchange rate, is a type of exchange rate regime in which a currency's value is fixed or pegged by a MONETARY authority against the value of another currency, a basket of other currencies, or another measure of value, such as gold. (2).A floating exchange rate is a type of exchange rate regime in which a currency's value is allowed to fluctuate in response to foreign exchange market events. A currency that uses a floating exchange rate is known as a floating currency. EXPLANATION:MARK ME AS BRAINEST ANSWER.

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Please explain in simple language: i) Fixed exchange rate ii) Floating exchange rate. (P.S: not the definitions from the NCERT reader.)

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