The daily monetary exchange rate fixed by each country's central bank is called foreign exchange fixing. The fixing time and exchange rate may be used to assess the currency performance of a central bank. The true value of market equilibrium is reflected in exchange rate setting. Banks, brokers, and traders utilize fixing rates as a market trend indicator. The mere rumor or expectation of a central bank intervention in the foreign exchange market may be enough to keep the currency stable. Significant intervention, on the other hand, may be necessary numerous times each year in nations with a filthy float currency policy. Central banks' objectives are not always accomplished. The combined power of the market might rapidly overcome any central bank. Several examples of this have occurred, notably the collapse of the European Exchange Rate Mechanism in 1992–93 and, more recently, in Asia.