crawling peg

Definitions

Banking

  • noun a method of controlling exchange rates, allowing them to move up or down slowly

Economics

  • noun a method of controlling exchange rates, where they are fixed at a certain rate but then allowed to move up or down by small amounts repeatedly

Forex

  • A currency exchange rate adjustment process used by central banks to moderate the change in the currency's value in the face of abrupt market or economic influences such as accelerating inflation.  A process by which a currency is allowed to fluctuate within a predetermined range while it "crawls" to a more appropriate valuation level relative to another currency.
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