Currency board (货币局制度)


A currency board (货币发行局 huò bì fā xíng jú) refers to a type of monetary authority which is required to maintain a fixed exchange rate with a foreign currency (货币 huò bì) and functions as an extreme form of a pegged exchange rate. Board as in “board of directors” (董事局 dǒng shì jú, or 董事会 dǒng shì huì).

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