Unpegs financial definition of unpegs
Unpeg (redirected from unpegs)
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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
The obvious meaning is to unpeg
it from whatever internationally-believed-to-be-sound kind of currency.
Foreign exchange broker Alpari UK has entered insolvency after market turmoil over the surprise decision by Switzerland to unpeg
its currency from the euro, Sky News reported on Friday.
Immediately following the announcement, Malaysia unpegs
its currency from the dollar and switches to a managed float.