题目内容
If a country's currency is a reserve currency, then intervention in the foreign exchange market to maintain a pegged exchange rate is unnecessary.
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The current world exchange rate system is usually described as an adjustable peg system.
With respect to exchange rates, the 1997 Asian currency crisis caused the Thai, Malaysian, Indonesian, and Korean governments to give up their pegged or heavily managed exchange rates and move to floating exchange rates.
“Dollarization” can be classified as a form of a fixed exchange rate.
The exchange-rate mechanism (ERM) crisis occurred because exchange controls were not adjusted frequently enough.
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