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But these became unnecessary in an era of floating rates.
但是这在浮动汇率的时代就无关紧要了。
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The move to floating rates has also had some interesting side-effects.
采取浮动汇率还产生了一些有趣的附带影响。
In part, that was because the move to floating rates was not complete.
一方面是因为没有全面采取浮动汇率。
"Floating rates are lower risk and lower return, " says David Battersby, investment manager at stockbrokers Redmayne-Bentley.
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Depending on whether floating rates rise or fall, one will end up owing money to the other.
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But surely, their fans may say, fixed exchange rates have one important advantage: they are less volatile than floating rates.
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