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When and why do countries change from Fixed Currency exchange rate to Freely trading one.?

Please read my question in the following context.
USD to Indian Rs (INR) exchange rate is approx 1:44 however as per the PPP (Purchasing Power Parity) the real rate is 1:10. This is controleed by Indian govt. However they are working on a 5 year plan to make the Indian currency fully convertible. Does that mean [...]

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Are there any ETF’s or ETN’s traded on the London Stock Exchange following the GBP/USD exchange rate? ?

I know on the New York Stock Exchange, you have iPath's fund with the code GBB but I would like one on the London Stock Exchange. I can't find one.
Currency FXB is traded on the NYSE not LSE. But thanks anyway for your answer.

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