Term for an exchange rate regime where a country's exchange rate is "pegged" (i.e., fixed) in relation to another currency, like China's Yuan being pegged to the US Dollar, but where the rate may be changed from time to time.
An exchange rate that is pegged, but for which it is understood that the par value will be changed occasionally. This system can be subject to extreme speculative attack and financial crisis, since speculators may easily anticipate these changes.
An exchange rate system where a country's exchange rate is fixed or pegged to another country's currency. The official pegged rate may be changed form time to time.