Which of the following statements is correct:

I. Crawling peg regime allows the currency to depreciate gradually over time within a limited range;

II. Free float can be characterised by complete independence of FOREX market from the government interference;

III. Managed float regime allows the currency to move within a defined band relative to another currency;

IV.Exchange rate regimes are established by Bank for international Settlements for all participating countries;

V.According to linked exchange rate regime, one currency is directly linked to the weighted average of a basket of major currencies such as USD, EUR and GBP.

Select one:

a.All of the statement are correct

b.All of the statement are incorrect

c.Only I is correct

d.Only I and V are correct

e.Only I, II, III and V are correct

f.Only II and V are correct

g.Only II and III are correct

h.Only III is correct

i.Only IV is correct

j.Only II is correct

k.Only II and IV are correct