The ringgit is free but not floating freely. It is now under “managed??? float. Cynics would call it “dirty??? float. To them, a “clean??? float is synonymous with a “free??? float. The latter is labeled “clean??? as the exchange rate under this mode is determined by supply and demand for the currency without government interventions. In the economics literature, there has always been a never-ending debate if the currency market should be left free or be tempered.  Publication: MIERScan, 1 August 2005.  Author: Mohamed Ariff.