The exchange rate system adopted by the European Union countries that are part of the eurozone can be described among the participating countries as

Question

Quizplus · Accepted Answer

The exchange rate system adopted by the European Union countries that are part of the eurozone is a fixed exchange rate system because the exchange rate between the euro and other currencies is fixed and maintained by the European Central Bank. The exchange rate is allowed to fluctuate within narrow bands, but the central bank intervenes to maintain the exchange rate within the bands.

The Exchange Rate System Adopted by the European Union Countries