"When does the floating exchange rate system begin?"

[sarahfx]

A floating exchange rate is a type of exchange rate regime where in a currency's value is not to be limited within a fixed margin, and is allowed to fluctuate according to the foreign exchange market.
Since Aug15 1971, when the USA imposed new economic policy, and let the USD exchange rate to float freely , this policy began to be promoted across the worldwide foreign exchange market.
In 1973, the floating exchange rate system was universally implemented.