Unpeg


Also found in: Dictionary.

Unpeg

To remove a peg to which a country's currency previously subscribed. For example, Kuwait unpegged the Kuwaiti dinar from the U.S. dollar and shifted to a currency basket in 2007 because the dollar was weak at the time, resulting in high inflation. When a country unpegs a currency, it may choose to peg the currency to something else or to let it float.
References in periodicals archive ?
BEIRUT: A leading banker said Wednesday the time is not ripe to unpeg the basket of Arab currencies from the US dollar, despite the global financial crisis.
A big threat to the world economy would arise from instability in China if it were to unpeg RMB to dollar before its financial system is prepared to take the heat.
Yes - I guess if those noodleheads in Washington unpeg the gold and the Golden Fleece is worked again, they'll be back.
Jackson discusses China's big news from the weekend when China said it will unpeg the Yuan from the Dollar, which Eric believes shows a large degree of confidence by China in their future.
Europe's calls to have China unpeg its currency from the falling dollar were firmly rebuffed by Beijing.
They include urging elected officials to demand that China unpeg its "artificially low" currency from the U.
Complicating matters is the Chinese government's announcement that it will unpeg the yuan from the U.
Hong Kong moves to unpeg its dollar from the US dollar, and repeg it to the Chinese renminbi.
The same month Thailand followed by Indonesia and the Philippines were forced to unpeg their currencies from the dollar.
On a related theme, the US trade deficit is struggling amid China's resistance to unpeg its yuan currency from the dollar.