Currency Baskets and Real Effective Exchange Rates
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With the major currencies continuously moving (if not floating freely) against each other, a country that does not choose to float must decide what to peg to. If it pegs to the SDR it floats against all currencies. Thus in the system begun in the early 1970s the very concept of a fixed exchange rate
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美国国家经济研究局创建时间：
1981-04-01
