Meaning of “currency peg” in the English Dictionary

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"currency peg" in Business English

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currency pegnoun [ C ]

uk us

ECONOMICS, FINANCE the act of connecting the value of a country's currency to that of another country:

Brazil's real fell sharply in January 1999 after the government abandoned its currency peg.

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