The Exchange Rate Mechanism (ERM) was:
A) an attempt to bring all countries under a fixed exchange rate system.
B) a fixed exchange rate system in Europe, with the Deutsche Mark as the anchor currency.
C) a fixed exchange rate system in Europe, with the British pound as the anchor currency.
D) a fixed exchange rate system in use in the 1960s.

Question

Quizplus · Accepted Answer

The Exchange Rate Mechanism (ERM) was a fixed exchange rate system in Europe, with the Deutsche Mark as the anchor currency. It was launched in 1979 and aimed to reduce currency fluctuations and promote economic stability among the member countries of the European Union. It was dissolved in 1999, with the introduction of the Euro as a common currency.

The Exchange Rate Mechanism (ERM) Was