Under the floating exchange rate system, exchange rate change is a balancer to eliminate the imbalance of the balance of payments account. Under the floating exchange rate system, the exchange rate is marketized, 1, and the exchange rate automatically adjusts the balance of payments; 2.( 1) Under the floating exchange rate system, the balance of payments is automatically adjusted through exchange rate leverage. When there is a temporary or periodic imbalance in a country, a government does not have to rush to use monetary and fiscal policies that undermine the domestic economic balance to adjust the balance of payments (under the fixed exchange rate system, if a country has a deficit in its balance of payments, it will often adopt austerity policies and measures to reduce imports and domestic expenditures, so that production will decline and unemployment will increase, that is, the domestic economy will also be subject to foreign balance. (2) If a country's wages and prices rise sharply, its exchange rate will depreciate to offset domestic inflation (while under the fixed exchange rate system, the country must return to the equilibrium point through domestic deflation or foreign inflation). 3. Under the floating exchange rate system, due to the balance of payments, currency changes and other reasons, the exchange rate is often adjusted. , will not seriously deviate from the exchange rate, the possibility of a huge impact on some hard currencies is reduced (under the fixed exchange rate system, due to the need to maintain a fixed exchange rate, the exchange rate will seriously deviate from the monetary value, thus triggering various international hot money speculation shocks). 4. Under the floating exchange rate system, the monetary authorities of various countries let the exchange rate be dominated by the foreign exchange market. When the exchange rate of local currency falls, there is no need to use foreign exchange reserves to buy and sell local currency, which can avoid a large loss of foreign exchange reserves in this country. However, speculation under the floating exchange rate, international trade and investment risks, increased difficulty in coordination between countries, rising exchange rate and increasing import costs are not conducive to economic development.