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Exchange Rate Mechanism

   Also found in: Financial, Acronyms, Encyclopedia, Wikipedia, Hutchinson 0.01 sec.
Exchange Rate Mechanism
n
1. (Economics) the mechanism formerly used in the European Monetary System in which participating governments committed themselves to maintain the values of their currencies in relation to the ECU Abbreviation ERM
2. (Economics) Also Exchange Rate Mechanism II the mechanism used to stabilize the currencies of European Union states that have not adopted the euro but wish to maintain the value of their currency in relation to it Abbreviation ERM II
Translations
Exchange Rate Mechanism n → meccanismo dei tassi di cambi
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Clarke is no stranger to financial crises: he became chancellor in 1993 after so-called Black Wednesday, when the British currency was forced out of the European Exchange Rate Mechanism.
Clarke returns to Tory frontline by AFP / AFP European Edition
Just as the pound's tumble after Britain left the European exchange rate mechanism in 1992 led to a surge in exports, the weaker pound should help firms exporting to the US and continental Europe.
Q&A: The pound by guardian.co.uk / guardian.co.uk
In fact, some had moved away from the German mark peg following the European Exchange Rate Mechanism (ERM) crisis in 1992-93 and allowed limited or full flexibility to their exchange rates before adopting a common currency.
Unravelling the myths of the GCC dollar peg by Gulf News (United Arab Emirates)
 
 
 
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