exchange rate mechanism in English

noun

1

an arrangement within the European Monetary System that allows the value of participating currencies to fluctuate to a defined degree in relation to each other so as to control exchange rates. Each currency is given a rate of exchange with the euro, from which it is allowed to fluctuate by no more than a specified amount; if it moves beyond this the government in question must alter its economic policies or reset the currency's rate with the euro.

Use "exchange rate mechanism" in a sentence

1. ERM Exchange Rate Mechanism. ESA95 European Standard Accounts 1995.

2. 13 The Deutschmark falls out of the Exchange Rate Mechanism.

3. The exchange rate mechanism is a voluntary prototype for a single currency.

4. He described Britain's entry into the European Exchange Rate Mechanism as an historic move.

5. 29 We will put the pound into the narrow band of the Exchange Rate Mechanism.

6. 7 He described Britain's entry into the European Exchange Rate Mechanism as an historic move.

7. The krone is pegged to the euro via the ERM II, the European Union's exchange rate mechanism.

8. In April 1992 the Greek drachma was the only Community currency not yet part of the EMS exchange-rate mechanism.

9. 27 But the Tories will continue to crucify manufacturing industry, in pursuit of an absurdly high parity in the Exchange Rate Mechanism.

10. 4 But the Tories will continue to crucify manufacturing industry, in pursuit of an absurdly high parity in the Exchange Rate Mechanism.

11. At a meeting before the European Community summit in Madrid in June 1989, Lawson and Foreign Secretary Geoffrey Howe forced Thatcher to agree to the circumstances under which she would join the Exchange Rate Mechanism.