There are many currencies "pegged" to Sterling and nothing to stop that from happening again if we took our own currency.

With their currencies pegged to the euro, these countries cannot use monetary policy as most do to bring down inflation.

China will keep growing and will keep its currency pegged to the dollar, despite pressure from Washington.

However, as the reference value rises and falls, so does the currency pegged to it.

All currencies pegged to the dollar also had a fixed value in terms of gold.

The renminbi is a notable exception; China has kept its currency firmly pegged to the dollar for a decade.

Argentina keeps its currency pegged one to one to the dollar.

For example, the currency may be free-floating, pegged or fixed, or a hybrid.

Before the implementation of the currency board there was much debate over which currency or currencies to peg the peso against.

Rapid growth is putting similar pressure on China, which has kept its currency, the yuan, pegged at a fixed rate to the dollar.