Fixed currency
From Biocrawler, the free encyclopedia.
A fixed currency, sometimes (less commonly) called a pegged currency, is a currency that uses a fixed exchange rate as its exchange rate regime.
In the modern world, fixed currencies form a minority of the world's currencies, although prior to the 1970s the Bretton Woods system made fixed currencies the norm. Prominent fixed currencies today include the Chinese renminbi.
A fixed currency is contrasted with a floating currency.
Fixing a currency represents a particular type of Monetary Policy.
