Sources
open directory project
Help build the largest human-edited directory on the web.
Submit a site - Become an editor
Wikipedia. Licensed under the GNU Free Documentation License.
Are you an expert in this subject? Join the discussion and share your knowledge at Wikipedia.org.
Fixed currency
From Wikipedia, the free encyclopedia
A fixed currency, 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. Prior to the 1970s, the Bretton Woods system made fixed currencies the norm; however, in 1973, the United States government abandoned the gold standard, so that the US dollar was no longer a fixed currency, and most of the world's currencies followed suit.
A fixed currency is contrasted with a floating currency. Fixing a currency represents a particular type of monetary policy. Most currencies with currently fixed exchange rates are pegged to either the U.S. dollar (the dollar standard) or the euro (the euro standard).
 |
This economics or finance-related article is a stub. You can help Wikipedia by expanding it. |