Meaning of the word "fixed exchange rate" in English
What does "fixed exchange rate" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.
fixed exchange rate
US /ˌfɪkst ɪksˈtʃeɪndʒ reɪt/
UK /ˌfɪkst ɪksˈtʃeɪndʒ reɪt/
Noun
1.
a type of exchange rate regime where a currency's value is fixed against the value of another single currency, a basket of other currencies, or a unit of account
Example:
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Many countries abandoned the fixed exchange rate system in favor of floating rates.
•
A fixed exchange rate can provide stability for international trade.
Synonym:
Synonym:
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