A country's decision to tie the value of its currency to another country's currency, gold (or another commodity), or a basket of currencies . Bloomberg Financial Dictionary
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A system in which currencies have exchange values with fixed rate relationships (or parities) with the US dollar or other currencies.
► See also Bretton Woods, Floating Exchange Rates.
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fixed exchange rate UK US noun [C]
► ECONOMICS, MONEY an exchange rate (= the rate at which one currency can be changed for another) that is kept at the same level by a central bank, etc. rather than being allowed to change: »
So far in China, the fixed exchange rate between the yuan and the dollar has made economic planning simple for buyers and sellers alike.
Financial and business terms. 2012.