# List of countries by exchange rate regime

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

## 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 | Exchange rate anchor | Exchange rate anchor | Exchange rate anchor | Monetary aggregate target (25) | Inflation Targeting framework (45) | Others (43) |
| Exchange rate arrangement (Number of countries) | US Dollar (37) | Euro (28) | Composite (8) | Other (9) | Monetary aggregate target (25) | Inflation Targeting framework (45) | Others (43) |
| 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)

### 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)
* India (INR)
* Japan (JPY)
* Mexico (MXN)
* Norway (NOK)
* Poland (PLN)
* Sweden (SEK)
* United Kingdom (GBP)

### 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)