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单词 exchange rate mechanism
释义
  • Business

exchange rate mechanismnoun [ S ]

also Exchange Rate Mechanism ukusabbreviation ERM

GOVERNMENT, ECONOMICS the system in which a group of European countries agreed to control the value of their currencies so that exchange rates between the countries did not change beyond particular limits. This system existed before the euro started to be used as a currency:

Market pressure drove the pound out of Europe's exchange rate mechanism.
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更新时间:2024/12/22 23:54:51