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Pegged Exchange Rate
A currency system where a country's currency value is fixed or linked to another currency or a basket of currencies.
Fixed Exchange-rate System
A currency system where the value of a country's currency is pegged to another currency, a basket of currencies, or a commodity like gold.
Central Bank
An institution that manages a country’s currency, money supply, and interest rates, often overseeing the commercial banking system of their country or monetary union.
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