fixed parity
noun [ C or U ]
ECONOMICS, MONEY ukusplural fixed paritiesthe value of a country's currency in relation to another currency to which it is fixed:
Member countries of the International Monetary Fund undertook to maintain currency rates at a fixed parity.
the system by which the value of one country's currency is fixed to that of another country:
The government may re-establish fixed parity for its currency this summer.