Exchange Rate Mechanism ( ERM) [] a way of linking the currencies of some European Union countries and controlling their exchange rates , before the euro was introduced in 1999 汇率机制（欧元推出之前，将某些欧盟国家的货币挂鈎并控制成员国货币的汇率）
[] any system in which the values of different currencies are linked together 汇率机制（将不同货币挂鈎的制度）◆She predicts that Asian economies will set up an exchange rate mechanism. 她预测亚洲国家将建立起一个汇率机制。