A measure of how far the exchange rates of currencies of members of the Exchange Rate Mechanism (ERM) of the European Monetary System (EMS) diverged from their agreed central parities with the European Currency Unit (ECU).
Description of the European Monetary System and its significance.
Limits to variations in exchange rates when a country commits itself to hold the exchange rate between its own currency and some foreign currency or currencies within a limited band.
A key feature of the European Monetary System (EMS) used to maintain currency stability within Europe.
Understanding the narrow-band framework within the Exchange Rate Mechanism (ERM) of the European Monetary System.
