system
Given the following post, respond as if you're commenting on Reddit:
human
ELI5: What does it mean to float a country's currency?

Sri Lanka is going through the worst economic crisis in history after the government has essentially been stealing money in any way they can. We have no power, no fuel, no diesel, no gas to cook with and there's a shortage of 600 essential items in the country that we are now banning to import. Inflation has reached an all-time high and has shot up unnaturally over the last year, because we have uneducated fucks running the country who are printing over a billion rupees per day. 

Yesterday, the central bank announced they would float the currency to manage the soaring inflation rates. Can anyone explain how this would stabilise the economy? (Or if this wouldn't?)
gpt
In general all currencies float.  The market demand decides how many dollars you get for your euro, and so forth.

Most central banks attempt to stabilize this float by buying the currency when it is low and selling it when it is high.  This buffering effect can keep the currency in a narrow trading range, if the central bank has enough money.

Some of the time, like your Sri Lanka case, the central bank doesn't have enough money to keep the currency in the trading range.  At that time, they make an announcement that they are going to drop their support for the currency and let the market find it's own level.  This is typically much lower, and so everybody who has the currency will see their account values drop dramatically relative to a baseline currency like the dollar or euro.  That gets all the inflation out of the way, in one big painful event, rather than depressing everyone for months.