A crawling peg refers to:
a. a large and sudden currency depreciation.
b. a fixed exchange rate regime in which the currency is adjusted very frequently to reflect market conditions.
c. a managed or dirty float, depending on the business cycle.
d. a drag on exchange rate adjustment caused by imperfect markets
Ans: b. a fixed exchange rate regime in which the currency is adjusted very frequently to reflect market conditions.
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Fill in the blank(s) with the appropriate word(s).
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