fixed exchange rate
Sign in to saveAlso known as pegged exchange rate, currency peg, pegged currency, exchange rate peg
type of exchange rate regime where a currency's value is fixed against the value of another single currency
~16 min read
Encyclopedic overview
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A fixed exchange rate, often called a pegged exchange rate or pegging, is a type of exchange rate regime in which a currency's value is fixed, or pegged, by a monetary authority against the value of another currency, a basket of other currencies, or another measure of value, such as gold or silver.
Excerpted from Wikipedia’s “fixed exchange rate” article, available under the CC BY-SA 4.0 licence.