Its policy is to favour a free float, which is shorthand for letting the market set the value of the Australian dollar.

BBC: Australian dollar's rise creates dilemma for economy

One example often brought up is Links Island, a maritime company whose stock the Singapore Exchange said had been "cornered" (reducing the free float below the required 10% minimum) during a period when the value of the stock rose fourfold in four months after its IPO in April 2000.

FORBES: World Markets