Fixed exchange rates are often used by developing nations that maintain pegs to a key currency such as the U.S. dollar.

Name: Fixed exchange rates are often used by developing nations that maintain pegs to a key currency such as the U.S. dollar.
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Fixed exchange rates are indeed often used by developing nations to stabilize their currency by pegging it to a key currency like the U.S. dollar, which can help in reducing inflation and fostering economic stability.

Fixed Exchange Rates Are Often Used by Developing Nations That