List of countries by exchange rate regime

This is a list of countries by their exchange rate regime.

De facto exchange-rate arrangements in 2022 as classified by the International Monetary Fund.

  Floating (floating and free floating)

  Soft pegs (conventional peg, stabilized arrangement, crawling peg, crawl-like arrangement, pegged exchange rate within horizontal bands)

  Hard pegs (no separate legal tender, currency board)

  Residual (other managed arrangement)

Table of Monetary Policy framework

De Facto Classification of Exchange Rate Arrangements, as of April 30, 2021, and Monetary Policy Frameworks

Exchange rate arrangement (Number of countries)	Exchange rate anchor				Monetary aggregate target (25)	Inflation Targeting framework (45)	Others (43)
	US Dollar (37)	Euro (28)	Composite (8)	Other (9)
No separate legal tender (16)	Ecuador El Salvador Marshall Islands Micronesia Palau Panama (PAB) Timor-Leste	Andorra Monaco San Marino Vatican City Kosovo Montenegro		Kiribati Nauru Tuvalu
Currency board (11)	Djibouti (DJF) Hong Kong (HKD) ECCU Antigua and Barbuda (XCD) Dominica (XCD) Grenada (XCD) Saint Kitts and Nevis (XCD) Saint Lucia (XCD) Saint Vincent and the Grenadines (XCD)	Bosnia and Herzegovina (BAM) Bulgaria (BGN)		Brunei (BND)
Conventional peg (40)	Aruba (AWG) The Bahamas (BSD) Bahrain (BHD) Barbados (BBD) Belize (BZD) Curaçao (ANG) Eritrea (ERN) Jordan (JOD) Oman (OMR) Qatar (QAR) Saudi Arabia (SAR) Turkmenistan (TMT) United Arab Emirates (AED)	Cabo Verde (CVE) Comoros (KMF) Denmark (DKK) São Tomé and Príncipe (STD) WAEMU Benin (XOF) Burkina Faso (XOF) Côte d'Ivoire (XOF) Guinea-Bissau (XOF) Mali (XOF) Niger (XOF) Senegal (XOF) Togo (XOF) CEMAC Cameroon (XAF) Central African Republic (XAF) Chad (XAF) Equatorial Guinea (XAF) Gabon (XAF) Republic of Congo (XAF)	Fiji (FJD) Libya (LYD)	Eswatini (SZL) Lesotho (LSL) Namibia (NAD) Bhutan (BTN) Nepal (NPR)	Samoa (SAT)
Stabilized arrangement (24)	Guyana (GYD) Cambodia (KHR) Iran (IRR) Maldives (MVR) Lebanon (LBP) Trinidad and Tobago (TTD)	North Macedonia (MKD)	Singapore (SGD)		Bangladesh (BDT) Algeria (DZD) Bolivia (BOB) The Gambia (GMD) Nigeria (NGN) Papua New Guinea (PGK) Suriname (SRD) Tanzania (TZS) Tajikistan (TJS)	Guatemala (GTQ) Serbia (RSD)	Azerbaijan (AZN) Mongolia (MNT) Sudan (SDG) Egypt (EGP)
Crawling peg (3)	Honduras (HNL) Nicaragua (NIO)		Botswana (BWP)
Crawl-like arrangement (24)			Vietnam (VND)		Islamic Emirate of Afghanistan (AFN) Burundi (BIF) China (CNY) Democratic Republic of the Congo (CDF) Ethiopia (ETB) Rwanda (RWF)	Costa Rica (CRC) Dominican Republic (DOP) Ghana (GHS) Philippines (PHP) Romania (RON) Uzbekistan (UZS)	Argentina (ARS) Laos (LAK) Mauritania (MRO) Mozambique (MZN) Switzerland (CHF) Solomon Islands (SBD) South Sudan (SSP) Tunisia (TND) Zambia (ZMW)
Pegged exchange rate within horizontal bands (1)			Morocco (MAD)
Other managed arrangement (12)			Kuwait (KWD) Syria (SYP)		Liberia (LRD) Myanmar (MMK) Sierra Leone (SLL) Zimbabwe (ZWL)	Kenya (KES)	Haiti (HTG) Kyrgyzstan (KGS) Tonga (TOP) Vanuatu (VUV) Venezuela (VEF)
Floating (32)					Angola (AOA) Belarus (BYR) Madagascar (MGA) Yemen (YER)	Albania (ALL) Armenia (AMD) Brazil (BRL) Colombia (COP) Georgia (GEL) Hungary (HUF) Iceland (ISK) India (INR) Indonesia (IDR) Israel (ILS) Jamaica (JMD) Kazakhstan (KZT) South Korea (KRW) Moldova (MDL) New Zealand (NZD) Paraguay (PYG) Peru (PEN) Seychelles (SCR) Sri Lanka (LKR) South Africa (ZAR) Thailand (THB) Turkey (TRY) Uganda (UGX) Ukraine (UAH) Uruguay (UYU)	Malaysia (MYR) Mauritius (MUR) Pakistan (PKR)
Free floating (33)						Australia (AUD) Canada (CAD) Chile (CLP) Czech Republic (CZK) Japan (JPY) Mexico (MXN) Norway (NOK) Poland (PLN) Russia (RUB) Sweden (SEK) United Kingdom (GBP)	Somalia (SOS) United States (USD) European Union (EUR) Austria Belgium Croatia Cyprus Estonia Finland France Germany Greece Ireland Italy Latvia Lithuania Luxembourg Malta Netherlands Portugal Slovakia Slovenia Spain

No legal tender of their own

US dollar as legal tender

• British Virgin Islands
• Caribbean Netherlands
• Ecuador
• El Salvador
• Marshall Islands
• Micronesia
• Palau
• Timor-Leste
• Turks and Caicos Islands

Euro as legal tender

• Andorra
• Kosovo
• Monaco
• Montenegro
• San Marino
• Vatican City

Australian dollar as legal tender

• Kiribati
• Nauru
• Tuvalu

Swiss franc as legal tender

• Liechtenstein

Currency board

US dollar as exchange rate anchor

• Antigua and Barbuda (XCD)
• Djibouti (DJF)
• Dominica (XCD)
• Grenada (XCD)
• Hong Kong (HKD)
• Saint Kitts and Nevis (XCD)
• Saint Lucia (XCD)
• Saint Vincent and the Grenadines (XCD)

Euro as exchange rate anchor

• Bosnia and Herzegovina (BAM)
• Bulgaria (BGN)
• French Polynesia (XPF)

Singapore dollar as exchange rate anchor

• Brunei (BND)

Hong Kong dollar as exchange rate anchor

• Macau (MOP)

Conventional peg

US dollar as exchange rate anchor

• Aruba (AWG)
• Azerbaijan (AZN)
• The Bahamas (BSD)
• Bahrain (BHD)
• Barbados (BBD)
• Belize (BZD)
• Bermuda (BMD)
• Curaçao (ANG)
• Eritrea (ERN)
• Jordan (JOD)
• Oman (OMR)
• Panama (PAB)
• Qatar (QAR)
• Saudi Arabia (SAR)
• Sint Maarten (ANG)
• South Sudan (SSP)
• Turkmenistan (TMT)
• United Arab Emirates (AED)

Euro as exchange rate anchor

• Benin (XOF)
• Burkina Faso (XOF)
• Cabo Verde (CVE)
• Cameroon (XAF)
• Central African Republic (XAF)
• Chad (XAF)
• Comoros (KMF)
• Côte d'Ivoire (XOF)
• Denmark (DKK)
• Equatorial Guinea (XAF)
• Gabon (XAF)
• Guinea-Bissau (XOF)
• Mali (XOF)
• Niger (XOF)
• Republic of Congo (XAF)
• São Tomé and Príncipe (STD)
• Senegal (XOF)
• Togo (XOF)

Rand as exchange rate anchor

• Eswatini (SZL)
• Lesotho (LSL)
• Namibia (NAD)

Composite exchange rate anchor

• Fiji (FJD)
• Kuwait (KWD)
• Libya (LYD)
• Morocco (MAD)
• Samoa (WST)

Indian Rupee as exchange rate anchor

• Bhutan (BTN)
• Nepal (NPR)

Other

• Solomon Islands (SBD)

Stabilized arrangement

US dollar as exchange rate anchor

• Guyana (GYD)
• Iraq (IQD)
• Kazakhstan (KZT)
• Lebanon (LBP)
• Maldives (MVR)
• Suriname (SRD)
• Trinidad and Tobago (TTD)

Euro as exchange rate anchor

• North Macedonia (MKD)

Composite exchange rate anchor

• Singapore (SGD)
• Vietnam (VND)
• Mehr euro

Monetary aggregate target

• Bangladesh (BDT)
• Burundi (BIF)
• Democratic Republic of the Congo (CDF)
• Guinea (GNF)
• Sri Lanka (LKR)
• Tajikistan (TJS)
• Yemen (YER)

Other

• Angola (AOA)
• Azerbaijan (AZN)
• Bolivia (BOB)

Crawling peg

US dollar as exchange rate anchor

• Nicaragua (NIO)

Composite exchange rate anchor

• Botswana (BWP)

Crawl-like arrangement

US dollar as exchange rate anchor

• Honduras (HNL)
• Jamaica (JMD)
• Papua New Guinea (PGK)

Monetary aggregate target

• China (CNY)
• Ethiopia (ETB)
• Uzbekistan (UZS)

Inflation-targeting framework

• Armenia (AMD)
• Dominican Republic (DOP)
• Guatemala (GTQ)

Other

• Belarus (BYR)
• Haiti (HTG)
• Laos (LAK)
• Switzerland (CHF)
• Tunisia (TND)
• Argentina (ARS)

Pegged exchange rate within horizontal bands

Composite exchange rate anchor

• Tonga (TOP)

Other managed arrangement

US dollar as exchange rate anchor

• Cambodia (KHR)
• Liberia (LRD)

Composite exchange rate anchor

• Algeria (DZD)
• Iran (IRR)
• Syria (SYP)

Monetary aggregate target

• The Gambia (GMD)
• Myanmar (MMK)
• Nigeria (NGN)
• Rwanda (RWF)

Inflation-targeting framework

• Czech Republic (CZK)

Other

• Costa Rica (CRC)
• Kyrgyzstan (KGS)
• Malaysia (MYR)
• Mauritania (MRO)
• Pakistan (PKR)
• Sudan (SDG)
• Vanuatu (VUV)
• Venezuela (VED)

Floating

Monetary aggregate target

• Afghanistan (AFN)
• Kenya (KES)
• Madagascar (MGA)
• Malawi (MWK)
• Mozambique (MZN)
• Seychelles (SCR)
• Sierra Leone (SLL)
• Tanzania (TZS)
• Ukraine (UAH)
• Uruguay (UYU)

Inflation-targeting framework

• Albania (ALL)
• Brazil (BRL)
• Colombia (COP)
• Georgia (GEL)
• Ghana (GHS)
• Hungary (HUF)
• Iceland (ISK)
• Indonesia (IDR)
• Israel (ILS)
• South Korea (KRW)
• Moldova (MDL)
• New Zealand (NZD)
• Paraguay (PYG)
• Peru (PEN)
• Philippines (PHP)
• Romania (RON)
• Serbia (RSD)
• South Africa (ZAR)
• Thailand (THB)
• Turkey (TRY)
• Uganda (UGX)

Other

• Pakistan (PKR)
• Mauritius (MUR)
• Mongolia (MNT)
• Zambia (ZMW)

Free floating

Inflation-targeting framework

• Australia (AUD)
• Canada (CAD)
• Chile (CLP)
• Japan (JPY)
• Mexico (MXN)
• Norway (NOK)
• Poland (PLN)
• Sweden (SEK)
• United Kingdom (GBP)
• India (INR)

Other

• European Union (EUR)

• • Austria
  • Belgium
  • Croatia
  • Cyprus
  • Estonia
  • Finland
  • France
  • Germany
  • Greece
  • Ireland
  • Italy
  • Latvia
  • Lithuania
  • Luxembourg
  • Malta
  • Netherlands
  • Portugal
  • Slovakia
  • Slovenia
  • Spain

• Egypt (EGP)
• Russia (RUB)
• Somalia (SOS)
• United States (USD)

See also

• Reserve currency
• Managed float regime