Pegged Currencies

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About pegged currencies

While many currencies in the world work under a floating exchange rate regime, where the currency price of a nation is determined by supply and demand on the open market, some other countries adopt fixed or pegged exchange rates against another currency.

Countries commonly establish a currency peg regime with a stronger or more developed economy so that domestic companies can access broader markets with less risk.

Pegging a currency stabilizes the exchange rate between countries. Doing so provides long-term predictability of exchange rates for business planning.

However, a currency peg can be challenging to maintain and distort markets if it goes far from the natural market price.

Such systems have proven to reduce the volatility of currencies used in developing economies and have placed pressure on governments to be more disciplined with monetary policy choices.

The U.S. dollar, the euro, and gold have historically been popular currency pegs.

Version 10.1 update

Prior to this version foxer used to calculate pegged values strictly following the currency peg from the configuration file, even if a value was provided from a Central Bank publication.

From version 10.1 on we have decided to stick to provided values, when they exist. Cases of this circumstance are found on the following plugins:

  • European Central Bank (ECB) : Bulgarian Leva (BGN)
  • Bank of China (BOC) : United Arab Emirates Dirham (AED)
  • Banco Central do Brasil (BCB) : Bulgarian Leva (BGN) / Cape Verde Escudo (CVE) / Comoros Franc (KMF)

These exceptional cases are now made visible, along other useful visual information, thanks to the new currency coloring mechanism, as described in the Main Converter Controls features article.

Tables below shows all pegged currencies as they are configured for foxer currency calculator.

Currency Calculator

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Currencies pegged to Euro

currencies pegged to euro

Iso Code Currency Name Symbol Pegged To Ratio
ATS Schilling (Austria) S EUR 13.7603
BAM Convertible Mark (Bosnia and Herzegovina) KM EUR 1.95583
BEF Franc (Belgium) BF EUR 40.3399
CYP Pound (Cyprus) £ EUR 0.585274
DEM Deutsch Mark (Germany) DM EUR 1.95583
EEK Kroon (Estonia) Kr EUR 15.64664
ESP Peseta (Spain) Ptas. EUR 166.386
FIM Markka (Finland) mk EUR 5.94573
FRF Franc (France) F EUR 6.55957
GRD Drachma (Greece) Dr EUR 340.75
IEP Punt (Ireland) Punt EUR 0.787564
ITL Lira (Italy) Lit EUR 1936.27
LTL Litas (Lithuania) Litas EUR 3.4528
LUF Franc (Luxembourg) LuxF EUR 40.3399
LVL Lat (Latvia) Ls EUR 0.702804
MTL Lira (Malta) £ EUR 0.4293
NLG Guilder (Netherlands) f. EUR 2.20371
PTE Escudo (Portugal) Esc EUR 200.482
SIT Tolar (Slovenia) SlT EUR 239.64
SKK Koruna (Slovakia) Sk EUR 30.126
XAF CFA Franc (Central Africa) F. EUR 655.957
XOF SDR (Int. Monetary Fund) F. EUR 655.957

Read more about this topic in this article about Foreign exchange regimes from Reuters.

You can download all these tables as a single pegged-currencies.csv file.

Currencies pegged to USD

currencies pegged to usd

Iso Code Currency Name Symbol Pegged To Ratio
AED Dirham (United Arab Emirates) Dh USD 3.6725
BHD Dinar (Bahrain) BD USD 0.376
DJF Franc (Djibouti) DF USD 177.721
ECS Sucre (Ecuador) Sucre USD 25000
ERN Nakfa (Eritrea) Nfk USD 15
JOD Dinar (Jordan) JD USD 0.709
KYD Dollar (Cayman Islands) $ USD 1.2
LBP Pound (Lebanon) USD 1507.5
OMR Rial (Oman) RO USD 0.3845
PAB Balboa (Panama) B USD 1
QAR Riyal (Qatar) QR USD 3.64
SAR Riyal (Saudi Arabia) SR USD 3.75
SVC Colon (El Salvador) Colon USD 8.75
VEF Bolivar (Venezuela) Bs.F USD 4.3
XCD Dollar (East Caribbean Dollar) EC$ USD 2.7

Other pegged currencies

Iso Code Currency Name Symbol Pegged To Ratio
GIP Pound (Gibraltar) £ GBP 1
SHP Pound (Saint Helena) £ GBP 1
NPR Rupee (Nepal) NRs INR 1.6
LSL Loti (Lesotho) L ZAR 1
NAD Dollar (Namibia) N$ ZAR 1
SZL Lilangeni (Swaziland) L ZAR 1

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