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European Narrow Margins Arrangement [1 record]

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Record 1 2017-01-03

English

Subject field(s)
  • Currency and Foreign Exchange
  • Finance
CONT

[The] arrangement reduces the maximum spread at any time between dollar quotations of two Community currencies (Popularly called the "snake") while leaving quotations against the dollar free to move, according to the play of market forces, within the wider Smithsonian band of 4.5 per cent (the "tunnel" in the metaphor) formed by the maximum deviation from parity or central rates of plus or minus or minus per cent

OBS

European Narrow Margins Arrangement: term extracted from the “Glossaire de l’économie” and reproduced with permission of the Organisation for Economic Co-operation and Development.

French

Domaine(s)
  • Politique monétaire et marché des changes
  • Finances
CONT

[Les banquiers helvétiques] tablent sur un prochain éclatement du «serpent monétaire européen» [...]. La fin du serpent leur apparaît même bénéfique, dans la mesure où elle donnerait la possibilité d'instaurer un mécanisme plus efficace

OBS

«Serpent européen», ensemble des monnaies des pays de la C.C.E. élargie. [...] Les monnaies du serpent sont liées entre elles par des parités définies dont elles ne peuvent s'écarter que d'un maximum de 2,25 p. 100, au-delà duquel intervient la banque d'émission du pays concerné.

OBS

accord européen sur le maintien de marges étroites : terme extrait du «Glossaire de l’économie» et reproduit avec l’autorisation de l’Organisation de coopération et de développement économiques.

Spanish

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