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Snake

 

Exchange rate system in the Western European countries, adopted in 1972 as a more flexible form of Fixed Exchange Rates. The exchange rate of each country in the European Community was allowed to fluctuate up or down within certain upper or lower limits, called a Currency Band. See also European Monetary System.

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Banking Dictionary. Dictionary of Banking Terms. Copyright © 2006 by Barron's Educational Series, Inc. All rights reserved.  Read more