Definition of crawling peg in English:

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crawling peg

noun

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: [as modifier]: the ERM was a crawling-peg system
More example sentences
  • 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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