What is a currency system in which each country tries to keep the value of its currency constant against one another called?

1 answer:

7 0

A currency system in which each country tries to keep the value of its currency constant against one another called a fixed exchange rate system is followed by the country to maintain the value of the currency constant.

A) a fixed exchange rate system is followed by the country to maintain the value of the currency constant.

Explanation:

A fixed exchange rate system is a currency system that is followed by many countries to maintain the value of their currency constant. The fixed exchange rate is fixed for some of the most traded currencies in the world.

US dollar, Euro and Japanese yen are some of the globally noted currencies. The currency exchange rates are generally fixed by the government or central bank of the country. The exchange rate of the currency is fixed so that the value of the currency can be maintained within a narrow band.

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