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Joint Float |
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Joint float An arrangement by which a group of currencies maintain a fixed relationship relative to each other, but move jointly relative to another currency in response to supply and demand conditions in the exchange market. Joint Float An agreement between the central banks of two or more different countries where their currencies remain at the same exchange rate relative to each other, but are otherwise floating currencies. The two central banks make the relevant purchases and sales of each other's currencies in order to maintain the joint float. See also: Peg. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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