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Exchange Rate Mechanism |
Also found in: Financial, Acronyms, Encyclopedia, Wikipedia, Hutchinson | 0.01 sec. |
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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 Exchange Rate Mechanism n → meccanismo dei tassi di cambi How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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9462 late Wednesday in New York, marking its strongest showing against the dollar since September 1992, before Britain cashed out of the European Exchange Rate Mechanism. Billionaire investor George Soros thought he could run Bush out of the White House in the same way he pushed sterling out of the Exchange Rate Mechanism in 1992. The country must have participated for at least two years in the European Exchange Rate Mechanism (ERM II) within the normal fluctuation margins, without any devaluation being required. |
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