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 ?
With regards to NIRs, the CBE's decision to unpeg the Egyptian Pound led to the steady accumulation of foreign currency reserves through the formal channels.
M2 EQUITYBITES-January 19, 2015-Alpari sustains heavy losses as Switzerland unpegs currency from the euro
"To begin to unpeg from the dollar would also mean unpegging from full convertibility.
Although some are calling for the GCC states to unpeg their currencies from the dollar, this would not be easy as oil is priced in dollars, as are many other major commodities around the world.
The EU and the US have both accused China of keeping the renminbi at an artificially low level, and want it to unpeg it from the dollar.
In his view this is not the right time to unpeg the Saudi riyal from the US dollar, as there is no alternative currency to replace it at the moment.
Summary: 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.
(147) This was exemplified when Argentina decided to unpeg the peso at the turn of the century.
So asking China to re-value RMB or to unpeg its exchange rate against dollar is the same as asking it to appreciate RMB.
As for the washing - unpeg it and dump it, neatly, on the grass.
Yes - I guess if those noodleheads in Washington unpeg the gold and the Golden Fleece is worked again, they'll be back."