Unpeg

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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 ?
He thinks the unpegged Texas rig works better than pegging the sinker.
However, Mr Bourland said he was not persuaded by the argument that the currencies had to be unpegged from the greenback.
I suggest that unpegged joints permitted boats to be more easily disassembled and the planks transported, reassembled and 'recycled'.
It was during such a reverie the other day that I entered the kitchen through the backdoor in my elastic-sided, tartan slippers and poplinette pyjamas, having just unpegged from the washing line four pairs of Y-fronts, three string-vests and my bed-socks.
Malaysia unpegged its currency, the ringgit, from the dollar and went to a currency basket system immediately after China's announcement.
After a hold on accounts prevented a run on banks, the decision to float the peso unpegged the currency from the US dollar.
In fact, when Canada unpegged its exchange rate with the United States in the early 1970s, the explicit policy reason for doing so was to allow the Canadian dollar to appreciate, and reduce pressure from rising U.
The Peso was volatile throughout the first six months of 2002 after it was unpegged from the U.
She furiously unpegged our sheets and shirts, calling: 'Come and help.
When the Argentine peso was unpegged from the dollar in 2001, the currency crashed (see NotiSur 2002-02-15), a disaster for most of the country but a boon to export-oriented farmers, since they are paid in still-strong foreign currencies.