A point on a scale of exchange rates in which a currency’s value is allowed to go up or down frequently by small amounts within overall limits.
- This raises the question: are permanently fixed exchange rates within the euro zone preferable to a crawling peg system or managed float or to the more freely floating system in which the pound sterling operates, for example?
- The administration of the compensated dollar is similar to the operation of a crawling peg in foreign exchange markets.
- For elite classes, the middle class, and workers and peasants, the crawling peg provided critical economic benefits.
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Syllabification: crawl·ing peg
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