When a country tries to hold the value of their currency within some range against an important reference currency such as the u. s. dollar without adopting a formal pegged rate, it is referred to as a

The correct answer is dirty float.

Explanation:

A dirty flotation is a floating exchange rate in which the central bank of a country occasionally intervenes to change the direction or rate of change of the value of a country's currency. In most cases, the central bank in a dirty flotation system acts as a buffer against an external economic shock before its effects disturb the national economy. A dirty float is also known as a "controlled float."

Many developing countries try to protect their national industries and their trade using a managed fleet in which the central bank intervenes to guide the currency. The frequency of such intervention varies. For example, the Reserve Bank of India closely manages the rupee within a very narrow currency band, while the Monetary Authority of Singapore allows the local dollar to fluctuate more freely in an undisclosed band.