From Longman Business Dictionaryfixed exchange rateˌfixed exˈchange rateFINANCE an exchange rate that is not allowed to change in relation to others, for example under the BRETTON WOODS AGREEMENTGiven a fixed exchange rate and a UK inflation rate higher than that in the rest of the world, UK exports will become less competitive in world markets while imports will become more attractive to UK buyers. → exchange rate
