ELI5 Currencies - what does it mean to float a country’s currency?

ELI5 Explain Like I'm 5: Bite sized answers to stuff you should know about - in a mini podcast

How does a country devalue their currency, and why would they want to do that? What does it mean when people say a government is manipulating a currency? And what does it mean to either ‘peg’ or ‘float’ a currency? Explain the Bretton Woods system?

... we explain like I'm five

Thank you to the r/explainlikeimfive community and in particular the following users whose questions and comments formed the basis of this discussion: sakiliya, wrsaunders and baldbear_13

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