Five years ago, China unhooked the yuan from its pegged exchange rate with the U.S. dollar and adopted a floating rate with a basket of currencies.

五年前，中国让人民币对美元脱钩，并采用了一种盯住一篮子货币的浮动汇率。

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A currency exchange rate that is allowed to be set completely by market forces, differ from the managed floating exchange rate system regulated by the government or pegged exchange rate system.

指完全由自由市场供求因素决定的货币汇率，与受官方管制的有管理的浮动汇率制度或爬行钉住汇率制不同。

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To control domestic inflation the peso is overvalued and the exchange rate pegged to the dollar and floating.

为控制国内的通货膨胀，比索汇率被高估并与美元挂钩浮动。

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Analysts argue that revaluation is in order, a stance that received a boost last May when Kuwait de-pegged its dinar from the dollar, shifting to a floating basket exchange system.

FORBES: Magazine Article

Pegged rates are also susceptible to speculative attack, whereas a floating rate can adjust more smoothly to market forces.

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