单词 | exchange equalization account |
释义 | exchange equalization account An account set up in 1932 and managed by the Bank of England on behalf of the government. It contains the official gold and foreign-exchange reserves (including Special Drawing Rights) of the UK and is used to manage the value of sterling. Although all exchange controls were abolished in 1979, the Bank of England still makes use of this account to help to stabilize rates of exchange. |
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