Which of the following statements is correct: I. Crawling peg regime allows the currency to depreciate gradually over time within a limited range; Il. Free float can be characterised by complete independence of FOREX market from the government interference; Ill. 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; IV. Exchange rate regimes are established by Bank for international Settlements for all participating countries; V. Managed float regime used to be popular in the past but recently the major economies have established the floating exchange rate regime