In 1979, under the ERM, the member countries were pegged to the ECU, with a ______ band of fluctuation allowed.

Name: In 1979, under the ERM, the member countries were pegged to the ECU, with a ______ band of fluctuation allowed.
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The correct answer is B) 2.25%. Under the European Monetary System's Exchange Rate Mechanism (ERM), member countries' currencies were initially allowed to fluctuate by ±2.25% around their central rates against the ECU (European Currency Unit).

In 1979, Under the ERM, the Member Countries Were Pegged