Crawling peg (爬行钉住汇率制)

Crawling peg (爬行钉住汇率制 páxíng dīng zhù huìlǜ zhì) refers to an exchange rate (汇率 huì lǜ) system (制度 zhì dù) in which a currency with a fixed (固定 gù dìng) exchange rate is allowed to fluctuate within the trading band.

Part 1: Breakdown of Words

  • “Crawling” (爬行 páxíng) is used to describe the fluctuating situation which depends on other factors.
    • ” (pá) as in “mountain climbing” (爬山 pá shān), “ascend” (爬升 pá shēng), or “climb” (攀爬 pān pá).
    • ” (xíng) as in “action/operation” (行动 xíng dòng), “behavior” (行为 xíng wéi), or “walk” (行走 xíng zǒu).
  • ” (dīng) consists of “” (jīn) and “” (dīng); the radical “” (jīn) is usually associated with metal-like material.
  • Exchange rate” (汇率 huì lǜ) as in “fixed exchange rate” (固定汇率 gù dìng huì lǜ).
    • ” (huì) as in “money transfer” (汇款 huì kuǎn), or “report” (汇报 huì bào).
    • ” (lǜ) as in “probability” (概率 gài lǜ), or “ratio” (比率 bì lǜ).
  • ” (zhì) as in “system” (制度 zhì dù), “uniform” (制服 zhì fú), or “control” (管制 guǎn zhì).

 

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