Managed float - kanri float

Japanese: 管理フロート - かんりフロート

A type of floating exchange rate system in which policy authorities (central banks and currency authorities) buy and sell foreign currency in the foreign exchange market as appropriate to control fluctuations in exchange rates when it is believed that undesirable fluctuations in economic policy would occur if exchange rates were determined solely by market supply and demand. A float is a system in which policy constraints on the range of exchange rate fluctuations are removed, and the exchange rate moves like a small boat drifting on the waves. A system in which there is no policy control over exchange rate fluctuations is sometimes called a clean float, and one in which there is a strong degree of control is sometimes called a dirty float.

Source: Heibonsha World Encyclopedia, 2nd Edition Information

Japanese:

変動為替相場制の一種で，為替相場の決定を市場の需給関係だけにゆだねた場合，経済政策上望ましくない変動が生じると考えられるとき，政策当局(中央銀行や通貨管理局)が適宜外国為替市場で外貨の売買を行って為替相場の変動を管理する制度を指す。フロートfloatとは，為替相場の変動範囲に対する政策的制約が外されるため，あたかも波間を漂う小舟のように為替相場が推移する状態を表現したもので，為替相場の変動に対して政策的管理がいっさい行われないものをクリーン･フロートclean float，管理の程度の強いものをダーティ･フロートdirty floatと呼ぶこともある。

出典　株式会社平凡社世界大百科事典第２版について　情報

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