Meaning of “adjustable peg” in the English Dictionary

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"adjustable peg" in Business English

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adjustable pegnoun [ C ]

uk us ECONOMICS, FINANCE

a value for one currency in relation to another that is set but can sometimes be changed:

An adjustable peg system is a kind of fixed exchange rate system in which exchange rates can be readjusted when market conditions change.

(Definition of “adjustable peg” from the Cambridge Business English Dictionary © Cambridge University Press)