Currency-basket Peg

An exchange-rate system in which a country pegs its currency to the weighted average value of a basket, or selected number of currencies.

For example, Kuwait shifted the peg of the Kuwaiti dinar to a currency basket from the U.S. dollar in 2007 because the dollar was weak at the time, resulting in high inflation. The currency basket consists of currencies of Kuwait’s major trade and financial partners.
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