fixed parity

noun [C or U] (plural fixed parities) ECONOMICS, MONEY

Definition

› the value of a country's currency in relation to another currency to which it is fixed: Member countries of the International Monetary Fund undertook to maintain currency rates at a fixed parity.

› the system by which the value of one country's currency is fixed to that of another country: The government may re-establish fixed parity for its currency this summer.

(Definition of fixed parity noun from the Cambridge Business English Dictionary © Cambridge University Press)