Would a flexible exchange rate have helped to pull Britain out of depression in the mid-1920s and

Question:

Would a flexible exchange rate have helped to pull Britain out of depression in the mid-1920s and if so how?

Exchange Rate
The value of one currency for the purpose of conversion to another. Exchange Rate means on any day, for purposes of determining the Dollar Equivalent of any currency other than Dollars, the rate at which such currency may be exchanged into Dollars...

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