English version

European Monetary System

From Longman Business DictionaryEuropean Monetary SystemˌEuropean ˈMonetary ˌSystem (abbreviation EMS) nounFINANCE an arrangement established in 1979 between some members of the EUROPEAN UNION to make their currencies steady against each other by taking action in the currency markets when one member’s currency moves too far from its normal rate against other currencies see also Exchange Rate Mechanism
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