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How is the exchange rate detremined in a Floating exchange rate?

Relevant answers:

Is a fixed exchange rate better than a floating exchange rate?
Such statements cant be made. it depends on the economy. To maintain a fixed exchange rate a country is required to have good foreign exchange reserves so that every time currency moves away from the...
What is an exchange rate?
An exchange rate is the price for which one currency is converted into another the rate is determined by the supply and demand conditions of relevant currencies in the market transaction of currency...
What is a exchange rate?
an exchange rate is how much country's currency is worth in term of anothers.
What are the disadvantages of freely floating exchange rates?
Just go through the link below. Mohamed Ahmed Sarhan Al-Ahwal -...
What is the difference in how the exchange rate reflects the supply and demand for the currency?
flexible-exchange-rate system, the equilibrium exchange rate reflects the supply and demand for the currency. Under a fixed-exchange-rate system, a country's central bank intervenes by buying or...