EXCHANGE RATE MECHANISM
Exchange Rate Mechanism: translation
( ERM)
The methodology by which members of the EMS maintain their currency exchange rates within an agreed-upon range with respect to other member countries. Bloomberg Financial Dictionary
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Exchange Rate Mechanism Exˈchange Rate ˌMechanism abbreviation ERM noun ECONOMICS
a system used by Europe's central bank S to control the exchange rate between the currencies of EU member countries, which continues to be used in countries where the Euro is not the currency
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► See ERM.
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exchange rate mechanism UK US (also Exchange Rate Mechanism) noun [S] (ABBREVIATION ERM)
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ECONOMICS »
Market pressure drove the pound out of Europe's exchange rate mechanism.