fixed exchange rate Meaning in the Cambridge English Dictionary Cambridge dictionaries logo

Meaning of “fixed exchange rate” in the English Dictionary

"fixed exchange rate" in Business English

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fixed exchange ratenoun [C]

uk   us  
ECONOMICS, MONEY an exchangerate (= the ​rate at which one ​currency can be ​changed for another) that is ​kept at the same ​level by a centralbank, etc. rather than being ​allowed to ​change: So far in China, the ​fixedexchangerate between the ​yuan and the ​dollar has made ​economicplanning simple for ​buyers and ​sellers alike.
(Definition of fixed exchange rate from the Cambridge Business English Dictionary © Cambridge University Press)
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