Exchange Rate Mechanism
Britishnoun
-
ERM. the mechanism formerly used in the European Monetary System in which participating governments committed themselves to maintain the values of their currencies in relation to the ECU
-
ERM II. Also: Exchange Rate Mechanism II. the mechanism used to stabilize the currencies of European Union states that have not adopted the euro but wish to maintain the value of their currency in relation to it
Example Sentences
Examples are provided to illustrate real-world usage of words in context. Any opinions expressed do not reflect the views of Dictionary.com.
There was a collapse in the pound in 1992, when Britain was forced out of the European Exchange Rate Mechanism.
From Reuters • Sep. 7, 2022
By 1992, it had joined the Exchange Rate Mechanism, whereby the pound floated within narrow ranges against other European currencies such as the German Deutsche Mark.
From Fox News • Apr. 5, 2019
It promptly sank against the mark, falling out of Europe’s Exchange Rate Mechanism and dealing a setback to the push for greater European integration.
From New York Times • Jul. 17, 2018
Mr Soros, a Hungarian-born US citizen, made a fortune in 1992 betting against sterling on Black Wednesday, forcing then-PM John Major to take the pound out of the European Exchange Rate Mechanism.
From BBC • Feb. 8, 2018
Beating the Bank Interest rates were raised from 10% to 15% on Black Wednesday in a failed attempt to keep sterling in the European Exchange Rate Mechanism.
From The Guardian • Aug. 19, 2010
Definitions and idiom definitions from Dictionary.com Unabridged, based on the Random House Unabridged Dictionary, © Random House, Inc. 2023
Idioms from The American Heritage® Idioms Dictionary copyright © 2002, 2001, 1995 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company.
