exchange rate mechanism Meaning in Cambridge Business English Dictionary
Cambridge Dictionaries online Cambridge Dictionaries online

The most popular online dictionary and thesaurus for learners of English

Meaning of "exchange rate mechanism" - Business English Dictionary

exchange rate mechanism

noun [S] ( also Exchange Rate Mechanism)
 
 
( abbreviation ERM)
GOVERNMENT, ECONOMICS the system in which a group of European countries agreed to control the value of their currencies so that exchange rates between the countries did not change beyond particular limits. This system existed before the euro started to be used as a currency: Market pressure drove the pound out of Europe's exchange rate mechanism.
(Definition of exchange rate mechanism from the Cambridge Business English Dictionary © Cambridge University Press)
What is the pronunciation of exchange rate mechanism?
Add Cambridge dictionaries to your browser to your website
Word of the Day
sprint

a short and very fast race, such as the 100 metres, or the last part of a longer race that is run as fast as possible

Word of the Day

Are you a glass-half-full person? (Everyday Idioms)
Are you a glass-half-full person? (Everyday Idioms)
by Kate Woodford,
July 29, 2015
A reader of this blog recently asked for a post on idioms that are used in everyday English. This seemed like a reasonable request. After all, if you are going to make the effort to learn a set of English idioms, you want those idioms to be useful. The question, then, was

Read More 

exoskeleton noun
exoskeleton noun
July 27, 2015
a robotic device which goes around the legs and part of the body of a person who cannot walk and allows them to move independently and in an upright position The device, known as an exoskeleton, is strapped to the outside of a person’s limbs and can then be controlled by them.

Read More