Originally Posted by
buddy54
CBI adopts fixed ID exchange rate
Baghdad (NINA)- The Central Bank of Iraq CBI has announced adopting the exchange rate of Iraqi Dinar against the US Dollar, settled on last Thursday’s auction until March 19. A CBI statement said Saturday that the measure came within the previously adopted measures, aiming at boosting Iraqi Dinar
A FIXED RATE DEFENITION
A fixed exchange rate, sometimes (less commonly) called a pegged exchange rate, is a type of exchange rate regime wherein a currency's value is matched to the value of another single currency or to a basket of other currencies, or to another measure of value, such as gold. As the reference value rises and falls, so does the currency pegged to it. A currency that uses a fixed exchange rate is known as a fixed currency. The opposite of a fixed exchange rate is a floating exchange rate.
Revaluation means a rise of a price of goods or products. This term is specially used as revaluation of a currency, where it means a rise of currency to the relation with a foreign currency in a fixed exchange rate. In floating exchange rate correct term would be appreciation. The antonyme of revaluation is devaluation
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