What are the three major disadvantages of flexible exchange rates?

The three major disadvantages of flexible exchange rates are: (1)uncertainty and diminished trade-the risks and uncertainties associated with flexible exchange rates may discourage the flow of trade; (2)terms of trade change-a decline in the international value of its currency will worsen a country's terms of trade; and (3)instability-wide fluctuations in the exchange rate may stimulate and then depress domestic industries that produce exported goods.