<P> In the 21st century , the currencies associated with large economies typically do not fix or peg exchange rates to other currencies . The last large economy to use a fixed exchange rate system was the People 's Republic of China which , in July 2005 , adopted a slightly more flexible exchange rate system called a managed exchange rate . The European Exchange Rate Mechanism is also used on a temporary basis to establish a final conversion rate against the Euro ( € ) from the local currencies of countries joining the Eurozone . </P>
<P> In the 21st century , the currencies associated with large economies typically do not fix or peg exchange rates to other currencies . The last large economy to use a fixed exchange rate system was the People 's Republic of China which , in July 2005 , adopted a slightly more flexible exchange rate system called a managed exchange rate . The European Exchange Rate Mechanism is also used on a temporary basis to establish a final conversion rate against the Euro ( € ) from the local currencies of countries joining the Eurozone . </P>
examples of countries that uses fixed exchange rate
examples of countries that uses fixed exchange rate
People 's Republic of China
People 's Republic of China