noun
fixed exchange rate system
Abbreviation of 固定為替相場制. Used in economics to describe a system where a currency's value is pegged to another currency or basket.
See also: 固定為替相場制
Under a fixed exchange rate system, the central bank conducts foreign exchange intervention.
その国は長年、固定相場制を維持してきた。
That country has maintained a fixed exchange rate system for many years.