noun
Exchange Rate Mechanism; ERM
Refers specifically to the European Exchange Rate Mechanism (ERM) that preceded the euro. Used in economic and financial contexts.
イギリスは1992年に為替相場メカニズムから離脱した。
The United Kingdom withdrew from the Exchange Rate Mechanism in 1992.
Compound of 為替相場 (exchange rate) and メカニズム (mechanism), a direct translation of the English term 'Exchange Rate Mechanism'.