A PERENNIAL question in international economics—whether in academia or in policy circles—concerns the optimal choice of exchange rate regime. After the breakdown of the Bretton Woods system in the ...

and the deutsche mark with its partner currencies in the exchange rate mechanism of the European Monetary System, before the introduction of the euro in January 1999—and the currencies of other large ...

Currencies trade against each other as exchange rate pairs. For example, EUR/USD is a currency pair for trading the euro against the U.S. dollar. Forex markets exist as spot (cash) and derivatives ...

then financial secretary John Bremridge announced the introduction of the linked exchange system, which tied – or pegged – the currency to the US dollar at a fixed rate on October 17 ...