noun
fixed exchange rate system
An economic term referring to a system where a currency's value is tied to another currency, a basket of currencies, or a commodity like gold.
固定為替相場制の下では、中央銀行が為替レートを一定に保つために介入する。
Under a fixed exchange rate system, the central bank intervenes to keep the exchange rate stable.
Floating exchange rate system, where the currency value is determined by the market. Contrasts with 固定為替相場制.
Compound of 固定 (fixed), 為替 (exchange), 相場 (market price), and 制 (system). A straightforward technical term.