释义 |
narrow-band ERM The relation between members of the Exchange Rate Mechanism (ERM) of the European Monetary System (EMS) which agreed to limit fluctuations of their currencies relative to those of other members to 2 1/4 per cent. This was in contrast to the position of other members, namely the UK and Italy when they were members of ERM, which were allowed 6 per cent margins of fluctuation. |