An exchange rate system driven by supply and demand for each currency, allowing exchange rates to adjust to correct imbalances, such as current account deficits.

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The CFA Institute Investment Foundations Program covers the essentials of finance, ethics, and investment roles, providing a clear understanding of the global investment industry.


1. An exchange rate system driven by supply and demand for each currency, allowing exchange rates to adjust to correct imbalances, such as current account deficits.