Definitions for "Fixed exchange rate"
Usually synonymous with a pegged exchange rate. Although "fixed" seems to imply less likelihood of change, in practice countries seldom if ever achieve a truly fixed rate.
Foreign exchange policy where a central bank maintains an official rate for their currency, often intervening to keep the rate fixed within a limited range.
A system in which currencies have exchange values with fixed parities, or central rate relationships with Special Drawing Rights, gold, the U.S. dollar or other currencies.