Multiple Exchange Rates

It is not too uncommon for countries to have multiple exchange rates. In these cases, a country may opt to have both a floating exchange rate and a fixed exchange rate. Forex traders are usually still subject to the floating rates though because fixed rates are usually more for imports/exports of a country. Fixed exchange rates could be more or less favorable than a floating rate, and depending on which "segment" the rates apply to. This is important for forex trader to know because it is another monetary policy that can be imposed by a government.