A floating exchange rate:?
?is determined by the national governments involved.
?remains extremely stable over long periods of time.
?is determined by the actions of central banks.
?is allowed to vary only within a narrow range.?adjusts in response to market forces.
The Bretton Woods system:?
?established a worldwide gold standard.
?established a worldwide system of fixed exchange rates.
?established a worldwide system of flexible exchange rates.
?harmonized tariff systems.