Under the Exchange Rate Mechanism of the European Monetary System,when

question 10

Multiple Choice

Under the Exchange Rate Mechanism of the European Monetary System,when the German mark depreciated below its lower limit against the British pound,the German central bank was required to buy ________ and sell ________,thereby ________ international reserves.

• A)pounds;marks;losing
• B)pounds;marks;gaining
• C)marks;pounds;gaining
• D)marks;pounds;losing

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