currency board Meaning in Cambridge Business English Dictionary
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Meaning of "currency board" - Business English Dictionary

currency board

noun [C]
 
 
ECONOMICS, FINANCE, GOVERNMENT a government organization in some countries that controls the value of its country's currency, often by setting a fixed exchange rate with the currency of another country: The currency board in effect promises, if need be, to swap dollars for pesos at the stated parity without limit. A currency board has as its sole mission guaranteeing the value of the currency.
(Definition of currency board from the Cambridge Business English Dictionary © Cambridge University Press)
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