In recent years many emerging economies have shifted from exchange-rate pegs to a "managed float".

近些年来，新兴经济体们已经从汇率紧盯政策转向可控浮动。

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With a managed float system, decisions to intervene to stabilise the currency markets are discretionary.

在有管理体制下，为稳定货币市场而进行干预的各种决定都是自由决定的。

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Few analysts expect the RMB to rise more than 3 percent this year, in a managed float that officials say will be gradual.

一些分析家预期人民币今年将会美元升值超过3个百分点，官方表示它会在可控范围内循序渐进的浮动。

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From that month until July 2008, Beijing permitted a managed float against an undisclosed basket of currencies.

FORBES: The second in a four-part series. See Part One.

Soft-spoken but no-nonsense, she oversaw the subsequent transition of the ringgit to a managed float in 2005 and the gradual relaxation of foreign exchange rules.

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Iran's exchange rate, set by a managed float, makes exporting difficult.

ECONOMIST: Stunted and distorted | The