Meaning of the word "currency board" in English
What does "currency board" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.
currency board
US /ˈkɜːr.ən.si bɔːrd/
UK /ˈkɜːr.ən.si bɔːrd/
Noun
1.
a monetary authority that maintains a fixed exchange rate with a foreign currency
Example:
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The country adopted a currency board to stabilize its economy.
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A currency board ensures that the domestic currency is fully backed by foreign reserves.
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