Target-Zone Arrangement Is

Target-zone arrangement is

A) virtually a joint float system cooperatively arranged by a group of nations sharing some common interests and goals.
B) an automatic system for revising the exchange rate, establishing a par value around which the rate can vary up to a given percentage point.
C) government through their central banks buy or sell their currencies in the foreign exchange market whenever exchange rates deviate from their stated par values.
D) none of the above.