Gold-exchange standard - Financial definition
Financial acronyms
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Concise definition of the term gold-exchange standard
Gold-exchange standard is a monetary system under which a country’s currency may be converted into bills of exchange drawn on a country whose currency is convertible into gold at a stable rate of exchange.
Comprehensive definition of the term gold-exchange standard
A country on the gold-exchange standard is thus able to keep its currency at parity with gold without having to maintain as large a gold reserve as is required under the gold standard.