单词 | exchange rate bands |
释义 | exchange rate bands Limits to variations in exchange rates. A country commits itself to hold the exchange rate between its own currency and some foreign currency or currencies within a limited band. Exchange rate bands may be broad or narrow: under the Exchange Rate Mechanism (ERM), for example, at one time most members of the European Monetary System (EMS) agreed to keep their currencies within 21/4 per cent of parity with the European Currency Unit (Ecu), an average of European currencies, while the UK and Italy only committed themselves to broader bands, of 6 per cent each side of parity. |
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