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Definition: a countrys currency is set by the foreignexchange market through supply and demand for that
particular currency relative to other currencies.
Free Float
The
An example of a country
with a pegged exchange
rate would be China.
Chinas currency was
pegged to the U.S. Dollar
until 2005 as you can see
in the graph.
Type of Peg
Currency
American Dollars to 1
Chinese Yuan
American Dollars to 1
JPY
American Dollars to 1
CAD