Which currency has been pegged at around 7 units per US dollar?

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Multiple Choice

Which currency has been pegged at around 7 units per US dollar?

Explanation:
Currencies can be fixed to another currency through a peg, which keeps the exchange rate within a tight range. The Hong Kong dollar is tied to the US dollar in a currency-board system, anchored around roughly 7–7.8 HKD per USD. The Hong Kong Monetary Authority uses large USD reserves and daily interventions to defend that level, so you see quotes near 7 HKD for every USD. The other currencies don’t operate a peg near that level: the yen, pound, and Swiss franc float or are anchored differently and sit at much different rates against the dollar.

Currencies can be fixed to another currency through a peg, which keeps the exchange rate within a tight range. The Hong Kong dollar is tied to the US dollar in a currency-board system, anchored around roughly 7–7.8 HKD per USD. The Hong Kong Monetary Authority uses large USD reserves and daily interventions to defend that level, so you see quotes near 7 HKD for every USD. The other currencies don’t operate a peg near that level: the yen, pound, and Swiss franc float or are anchored differently and sit at much different rates against the dollar.

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