fixed exchange rate

An exchange rate that is officially controlled by the issuing country rather than determined by the world currency market conditions. (Compare floating exchange rate.)

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Nearby words

fixed capital, fixed charge, fixed cost, fixed costs, fixed drug eruption, fixed exchange rate, fixed head, fixed idea, fixed investment trust, fixed liability, fixed link

The New Dictionary of Cultural Literacy, Third Edition Copyright © 2005 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.