Explanation:

Managed float regime is the current international financial environment in which exchange rates fluctuate from day to day, but central banks attempt to influence their countries' exchange rates by buying and selling currencies to maintain a certain range. The peg used is known as a crawling peg.

In an increasingly integrated world economy, the currency rates impact any given country's economy through the trade balance. In this aspect, almost all currencies are managed since central banks or governments intervene to influence the value of their currencies.

Dirty Floating: Sometimes, countries are not in an official exchange rate mechanism, but they still do pay attention to the value of the exchange rate. Though they have no published target for the exchange rate, they may intervene under certain circumstances. For example, if the exchange rate deteriorated rapidly, they may increase interest rates to keep the value stronger.