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crawling peg

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crawling peg

In economics, a method of achieving a desired adjustment in a currency exchange rate (up or down) by small percentages over a given period, rather than by major revaluation or devaluation.

Some countries use a formula that triggers a change when certain conditions are met. Others change values frequently to discourage speculations.
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By the same token, the yuan's crawling peg and the consequent rapid build-up of foreign reserves have led to excessive liquidity growth and created serious economic distortions, notably in the asset markets where asset price inflation has been rampant.
China's yuan decision: the economic costs of the inflexible exchange ... by Lo, Chi / The International Economy
To permanently solve the prolonged problem of high inflation and unsustainable growth, Turkey announced an IMF-supported exchange rate based stabilization program in the context of a crawling peg regime to be adopted by the beginning of 2000.
Estimating the output gap in a changing economy by Kara, Hakan; Ogunc, Fethi; Ozlale, Umit; Sarikaya, Cagri / Southern Economic Journal
Another option was widening the fluctuation band and following a crawling peg to the US dollar.
Changes in China's exchange rate policy and future policy options by Yi, Jingtao / China: An International Journal
 
 
 
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