crawling peg

crawling peg definition - finance
A system for automatically revising the exchange rate between two currencies. Initially, central banks establish a par value, around which the rate can vary up to a given percent. The par value is revised regularly, usually by using a formula.

Webster's New World Finance and Investment Dictionary Copyright © 2003 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.

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