Meaning of “fixed parity” in the English Dictionary

"fixed parity" in Business English

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fixed paritynoun [ C or U ]

uk us plural fixed parities ECONOMICS, MONEY

the value of a country's currency in relation to another currency to which it is fixed:

Member countries of the International Monetary Fund undertook to maintain currency rates at a fixed parity.

the system by which the value of one country's currency is fixed to that of another country:

The government may re-establish fixed parity for its currency this summer.

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