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By implementing currency pegging, these governments can plan their expenditures exchange rate set by the the other nation.
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What is pegging of currency?In simple terms, the notion of a pegged cryptocurrency refers to a token, coin, or asset issued on a blockchain that has been linked to a fiat currency issued. In the crypto world, PEG denotes the value of a particular crypto asset with external factors such as fiat money or other collateral such as gold, silver, or. It is when a cryptocurrency is pegged to either fiat currency, precious metal such as gold or silver, or commodities such as crude oil. The.