Currency board (货币发行局 huòbì fāxíng jú or 货币局 huòbì jú) refers to a kind of monetary authority that controls the value of its currency by fixing the exchange rate of its currency to another widely used and dominant foreign currency.
Part 1: Breakdown of Words
- “Board” (局 jú) here refers to an organization which is involved in dealing with a particular kind of activity and can be also translated into (委员会 wěiyuánhuì or 董事会 dǒngshìhuì). “Board” as in the Federal Reserve Board (联邦储备委员会) and board of education (教育董事会).
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