When a country pegs its currencies to gold and guarantees convertibility,the country is following the:

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The gold standard is a monetary system where the value of a country's currency is fixed to a certain amount of gold. This system became popular in the 19th century and was commonly used up until the early 20th century. Under the gold standard, a country's currency could be exchanged for gold at a fixed rate. Therefore, if a country guarantees convertibility of its currency to a fixed amount of gold and pegs its currencies to gold, it is following the gold standard.

When a Country Pegs Its Currencies to Gold and Guarantees