If a country's currency's external value is tied or pegged to the currency values of the country's leading trading partners, this arrangement is known as a

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A peg against a "basket" of currencies or a "composite" is when a country's currency's external value is tied or pegged to the values of a group of currencies, typically including those of the country's leading trading partners. This helps to stabilize exchange rates and can provide a more predictable environment for international trade and investment.

If a Country's Currency's External Value Is Tied or Pegged