From Longman Business DictionaryExchange equalization accountExˌchange equaliˈzation acˌcount (also Exchange equalisation account British English) [singular] ECONOMICS an account at the Bank of England that is used by the British government to influence the price of the British pound by buying and selling gold and foreign currenciesThe Bank uses the Exchange Equalization Account to intervene in the foreign exchange market by buying up surplus sterling to keep up the external value of the pound. → account
