different exchange rate regimes

1. Pegged with horizontal bands

1.1. The rate is allowed to fluctuate in a fixed band (bigger than 1%) around a central rate.

2. crawl-like arrangements

2.1. The exchange rate must remain in a narrow band of 2% relative to a “statistically identified trend” for at least 6 months.

3. hard pegs

3.1. either the legally mandated use of another country's currency (also known as full dollarization) or a legal mandate that requires the central bank to keep foreign assets at least equal to local currency in circulation and bank reserves

4. soft pegs

4.1. currencies that maintain a stable value against an anchor currency or a composite of currencies

5. the economy dictates movements in the exchange rate

6. floating

7. conventional

7.1. The currency cannot fluctuate by more than 1% relative to the established target

8. stabilized arrangements

8.1. An arrangement where the spot rate remains within a margin of 2% for 6 months or more.