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English definition of “fixed parity”

fixed parity

noun [C or U]
 
 
( plural fixed parities) ECONOMICS, MONEY
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 from the Cambridge Business English Dictionary © Cambridge University Press)
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