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IMF?

In saying that the present system of floating exchange rates is managed we mean that: IMF officials determine exchange rates on a day-to-day basis. countries that allow their exchange rate to move freely will lose their borrowing privileges with the IMF. the value of any IMF member's currency can only vary 2 percent from its par value. the central banks of various countries sometimes buy and sell foreign exchange to alter undesirable trends in exchange rates.

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