Currency board

Synonyms:

联系汇率制

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).

Part 1: Breakdown of Words

“Currency” (货币 huò bì) as in “cryptocurrency” (密码货币 mì mǎ huò bì), “digital currency” (电子货币 diàn zǐ huò bì), or “currency code” (货币代码 huò bì dài mǎ).
- “货” (huò) as in “goods” (货品 huò pǐn), “shelf” (货架 huò jià), or “lorry” (货车 huò chē).
- “币” (bì) as in “RMB” (人民币 rén mín bì), “Bitcoin” (比特币 bǐ tè bì), or “coin” (硬币 yìng bì).
“发行” (fā xíng) derives from:
- “发” (fā) as in “departure” (出发 chū fā), “development” (发展 fā zhǎn), or “discovery” (发现 fā xiàn).
- “行” (xíng) as in “operation” (行动 xíng dòng), “behavior” (行为 xíng wéi), or “trip/route” (行程 xíng chéng).
“Board” (局 jú) as in “board of directors” (董事局 dǒng shì jú, or 董事会 dǒng shì huì), “board of governors” (理事会 lǐ shì huì), or “board of health” (卫生局 wèi shēng jú).

Alternative Meanings:

Currency board (货币委员会)
Currency board (货币委员会 huòbì wěiyuánhuì) refers to the monetary authority that has direct instructions to back the domestic currency in circulation with foreign currency, which usually exercises an extreme form of a pegged exchange rate.
- board (委员会 wěiyuánhuì) is often used to refer to a small group of authoritative or powerful people.
Currency board
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
- See: "Currency" (货币 huò bì).
- "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).

Related Terms: