crawling peg

noun

1. a method of stabilizing exchange rates, prices, etc, by maintaining a fixed level for a specified period or until the level has persisted at an upper or lower limit for a specified period and then permitting a predetermined incremental rise or fall

Example Sentences

He added that from Nov. 15 the currency would be put on a "crawling peg" that allowed it to devalue by 3% monthly.

From Reuters

While teaching at the University of York in England in the mid-1960s, he developed the “crawling peg” theory, an economic model to maintain currency stability by limiting volatility in exchange rates.

From Washington Post

It has become increasingly costly to maintain the yuan’s crawling peg to the dollar.

From Wall Street Journal

Transitioning from a crawling peg to a freer exchange rate was never going to be easy, but Beijing should have made the move years ago.

From Wall Street Journal

Russia ended its own flexible or "crawling" peg to the dollar after burning billions of dollars in reserves to defend the rouble RUB= while Ukraine and Belarus followed suit earlier this year UAH= BYR=.

From Reuters