fixed exchange rate

Cultural  

1. An exchange rate that is officially controlled by the issuing country rather than determined by the world currency market conditions. (Compare floating exchange rate.)

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Example Sentences

But that fixed exchange rate system was abandoned after the financial crisis that engulfed the country in 2001 and 2002.

From BBC • Feb. 2, 2023

"In times of war, it is impossible to avoid rising prices," Shevchenko wrote, adding, that the central bank will keep its fixed exchange rate as one of the measures to control consumer price inflation.

From Reuters • May 3, 2022

After years of budget surpluses, the country is running deficits, and concern is rising that the fixed exchange rate and big-state bureaucracy are stifling any real chance of transitioning to a modern, export-oriented economy.

From Washington Post • Oct. 8, 2019

Switzerland isn't the only country to move away from a fixed exchange rate recently.

From The Wall Street Journal • Jan. 5, 2016

Growth in 2000 was a negative 0.8%, as both domestic and foreign investors remained skeptical of the government's ability to pay debts and maintain the peso's fixed exchange rate with the US dollar.

From The 2006 CIA World Factbook by United States. Central Intelligence Agency