Meaning of “fixed exchange rate” in the English Dictionary

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"fixed exchange rate" in Business English

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fixed exchange ratenoun [ C ]

uk us

ECONOMICS, MONEY an exchange rate (= the rate at which one currency can be changed for another) that is kept at the same level by a central bank, etc. rather than being allowed to change:

So far in China, the fixed exchange rate between the yuan and the dollar has made economic planning simple for buyers and sellers alike.

(Definition of “fixed exchange rate” from the Cambridge Business English Dictionary © Cambridge University Press)