currency board Meaning in the Cambridge English Dictionary
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Meaning of “currency board” in the English Dictionary

"currency board" in Business English

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currency boardnoun [C]

uk   us  
ECONOMICS, FINANCE, GOVERNMENT a ​governmentorganization in some countries that ​controls the ​value of its country's currency, often by setting a ​fixedexchangerate with the ​currency of another country: The ​currencyboard in ​effect promises, if need be, to ​swapdollars for pesos at the ​statedparity without ​limit. A ​currencyboard has as its ​solemissionguaranteeing the ​value of the ​currency.
(Definition of currency board from the Cambridge Business English Dictionary © Cambridge University Press)
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