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Open Economy Macroeconomics — Economics STD 12 Humanities & Commerce — Question

Rajasthan BoardEnglish MediumSTD 12 Humanities & CommerceEconomicsOpen Economy Macroeconomics1 Mark
Question
What is the main feature of the fixed exchange rate system?
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Answer

The main feature of the fixed exchange rate system is that there must be credibility that the government will be able to maintain the exchange rate at the specified level.

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