Of the systems listed below, the exchange rate system in which a country's ability to Jconduct independent monetary policy is most limited is the

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The currency board exchange rate system is the most limiting system in terms of a country's ability to conduct independent monetary policy. Under this system, a country's central bank is required to hold foreign currency reserves equal to or greater than the amount of domestic currency in circulation. Therefore, the supply of domestic currency is directly tied to the amount of foreign currency held in reserve, limiting the central bank's ability to control the money supply and set interest rates.

Of the Systems Listed Below, the Exchange Rate System in Which