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English definition of “fixed exchange rate”

fixed exchange rate

noun [C]    
ECONOMICS, MONEY an exchange rate (= the rate at which one currency can be changed for another) that is kept at the same level by a central bank, etc. rather than being allowed to change: So far in China, the fixed exchange rate between the yuan and the dollar has made economic planning simple for buyers and sellers alike. → Compare floating exchange rate
(Definition of fixed exchange rate noun from the Cambridge Business English Dictionary © Cambridge University Press)
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